HDFC Mutual Fund's market debut to bring a windfall for key employees

The debut on the bourses of HDFC Mutual Fund, the country’s second-largest asset management company (AMC), will be a windfall for employees. Two of them are chief executive officer Milind Barve and fund manager Prashant Jain.

The value of employee stock option plans (ESOPs) held by eight key staffers would amount to Rs 4.32 billion at the upper end of the price band of Rs 1,100. These employees together hold nearly four million shares. 

HDFC MF has had a history of stock options and gave additional ESOPs to key staff a few months ago. 

Barve and Jain, the chief investment