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Star fund manager Prashant Jain's ESOPs worth Rs 168 cr after HDFC AMC's bumper listing

6 August, 2018 3:12 PM
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Star fund manager Prashant Jain's ESOPs worth Rs 168 cr after HDFC AMC's bumper listing

The stake of HDFC AMC MD Milind Barve is worth Rs 212.35 crore.

The stellar debut on the bourses of HDFC Asset Management Company, the country's second-largest fund house, has made the top employees at the fund house richer.

The employee stock options (ESOPs) allotted to Managing Director Milind Barve, who owns 11.7 lakh shares is now worth Rs 212.35 crore. Ace fund manager Prashant Jain, who owns 9,28,000 shares, has his stake amounting to Rs 168.43 crore.

Two other fund managers from the stable, Shobhit Mehrotra and Chirag Setalvad, own 3,71,200 shares and 3,36,000 shares, respectively. Their holding is now worth Rs 67.37 crore and Rs 60.98 crore, respectively.

On its first day of listing, HDFC AMC closed 65 percent higher, or Rs 715.15 higher to Rs 1,815 on the BSE.

The stock witnessed the second highest listing gains in 2018 and 6th highest since 2011, data showed.

HDFC AMC public issue was subscribed 83.06 times receiving bids for 156.19 crore equity shares against IPO size of 1.88 crore shares (excluding the anchor portion).

The market capitalisation of the AMC stood at Rs 38,479.15 crore on BSE at close.

Also read: Hathway to raise Rs 2,940 crore via preferential allotment to Reliance Jio

Source: moneycontrol.com

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