HDFC AMC on WebNotes

HDFC AMC IPO (2018)

Tue, 12 May 2026 00:00:00 +0000

The HDFC Asset Management Company Limited IPO of July 2018 was India’s first public listing of a significant asset management company, bringing to the stock market the country’s largest AMC by equity AUM and profitable fee-income franchise. Listed simultaneously on the National Stock Exchange of India and the Bombay Stock Exchange on 6 August 2018, HDFC AMC’s IPO was subscribed approximately 83 times overall and listed at a significant premium to its issue price of Rs 1,100 per share. The offering established an earnings-multiple benchmark for asset-light fund management businesses in India that influenced the subsequent valuations of the UTI AMC IPO of 2020 , the Aditya Birla Sun Life AMC IPO of 2021, and Nippon India AMC’s listing.

HDFC Mutual Fund

Tue, 12 May 2026 00:00:00 +0000

HDFC Mutual Fund is an Indian asset management company, formally constituted as HDFC Asset Management Company Limited (HDFC AMC), and is one of the two or three largest mutual funds in India by assets under management. Sponsored by HDFC Limited (the mortgage finance corporation) and abrdn plc (formerly Aberdeen Standard Investments) of the United Kingdom, the AMC managed assets exceeding Rs 6 lakh crore as of March 2024. HDFC AMC was incorporated in 1999 and launched its first schemes in 2000, building a comprehensive product range across equity, debt, hybrid, and passive categories. It listed its shares on the National Stock Exchange and Bombay Stock Exchange in August 2018, becoming one of the first Indian AMCs to be publicly traded.

HDFC Mutual Fund direct portal

Tue, 12 May 2026 00:00:00 +0000

The HDFC Mutual Fund direct portal at hdfcfund.com is the AMC-operated investment platform for direct plans of schemes managed by HDFC Asset Management Company Limited (HDFC AMC), one of India’s largest and most profitable asset management companies. HDFC AMC is listed on the National Stock Exchange (NSE: HDFCAMC) and BSE, making it one of the few publicly traded Indian AMCs.

HDFC AMC manages a comprehensive range of equity, debt, liquid, and hybrid mutual fund schemes and, as of 2024-25, ranked among the top two or three Indian AMCs by equity AUM. The direct portal enables self-directed investors to access HDFC AMC’s scheme range without distributor intermediation.

Mihir Vora

Tue, 12 May 2026 00:00:00 +0000

Mihir Vora is the Chief Investment Officer of Trust Mutual Fund (formerly TRUST Asset Management Private Limited), a SEBI-registered mutual fund. He is a veteran Indian equity fund manager with a career spanning over three decades across HDFC Asset Management Company , Max Life Insurance, Standard Chartered Asset Management (India), and other financial institutions.

Early life and education

Mihir Vora is a Chartered Accountant (CA) and holds a CFA charter. He pursued his professional education in India. He is based in Mumbai.

Milind Barve

Tue, 12 May 2026 00:00:00 +0000

Milind Barve is the former Managing Director and Chief Executive Officer of HDFC Asset Management Company Limited , one of India’s two largest mutual fund houses. He co-founded and led HDFC AMC from its inception in 1999 until his retirement in January 2021, a tenure of more than 21 years that made him one of the longest-serving AMC chief executives in India. During his leadership, HDFC AMC grew from a newly established fund house into one of the dominant forces in Indian asset management, co-managing with ICICI Prudential AMC the position of the largest or second-largest mutual fund by AUM in India through most of the 2010s. His retirement was followed by the appointment of Navneet Munot as the new MD and CEO.

Navneet Munot

Tue, 12 May 2026 00:00:00 +0000

Navneet Munot is the Managing Director and Chief Executive Officer of HDFC Asset Management Company Limited , one of India’s two largest mutual fund houses by assets under management, a position he has held since February 2021. He succeeded Milind Barve , who led HDFC AMC for many years. Before joining HDFC AMC, Munot served for over a decade as Chief Investment Officer at SBI Funds Management Private Limited (SBI Mutual Fund ), which he joined in 2008 and where he oversaw one of the most sustained periods of growth in SBI AMC’s history. He is regarded as one of India’s most accomplished fixed income investors, though his responsibilities span the full spectrum of equity, debt, and hybrid asset management at HDFC AMC.

Prashant Jain

Tue, 12 May 2026 00:00:00 +0000

Prashant Jain is the founder and Chief Investment Officer of 3P Investment Managers, a SEBI-registered portfolio management and investment advisory firm established in 2023. He is best known for his 21-year tenure as Executive Director and Chief Investment Officer at HDFC Asset Management Company , one of India’s two largest mutual fund houses, which he left in 2022. During his time at HDFC AMC, Jain was the lead fund manager for HDFC Equity Fund, HDFC Top 100 Fund (formerly HDFC Top 200 Fund), and HDFC Flexicap Fund (formerly HDFC Equity Fund), among the most widely tracked actively managed equity funds in Indian mutual fund history. He is regarded as one of the defining figures of Indian equity fund management over a career spanning more than three decades.