HDFC AMC, a subsidiary of Housing Development Finance Corporation, on Thursday, has filed a draft red herring prospectus for initial public offering  (IPO) with Securities & Exchange Board of India (SEBI).

The company in its filing stated, “The public offer is of up to 2,54,57,555 equity shares of HDFC Asset Management Company, which consists of an offer for sale of 85,92,970 equity shares by parent company HDFC and 1,68,64,585 shares by other promoter Standard Life Investments Limited.”

Further, out of total issue size, up to 3.2 lakh shares are reserved for HDFC AMC employees and up to 5.6 lakh shares are for HDFC employees. Up to 24 lakh shares are reserved for purchase by individual and Hindu Undivided Family shareholders of HDFC as of March 14.

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