HDFC AMC IPO to open on July 25, aims to raise Rs 2,800 crore

This will be the 5th listing within the HDFC group, said Deepak Parekh, chairman of HDFC.

"We have always believed that listing best reflects the value we have created in our key subsidiary and associate companies over the years," said Parekh in his statement.

Also read: Here's the full text of HDFC chairman Deepak Parekh's speech on AMC IPO

"HDFC, along with Standard Life Investments has nurtured HDFC AMC for 18 long years and based on the way we envisage India’s future, we thought the time was apt to list the AMC," he added.

In March, the board of directors of HDFC had approved offering up to 85,92,970 equity shares of Rs 5 each of HDFC AMC representing 4.08 percent of its then existing issued and paid-up equity share capital, by way of an offer for sale in the proposed IPO of HDFC AMC.