HDFC Mutual Fund to join IPO bandwagon

Second-biggest fund house begins talks to go public

HDFC Mutual Fund, the country’s second-largest money manager, has joined the list of probable asset management companies (AMCs) waiting to go public.

The AMC has begun preliminary discussions to list itself on the bourses but is yet to arrive at a time frame or appoint merchant bankers for the share sale, said two people familiar with the matter.

HDFC MF began operating as an AMC in July 2000 and is sponsored by the Housing Development Finance Corporation (HDFC) and Standard Life Investments. The former holds 59.9 per cent stake while the latter has 39.9 per cent share in the AMC.