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The round is said to have been joined by Motilal Oswal and other prominent public markets investors such as New Horizon Investments, White Oak Capital and Madhusudan Kela.
The HDFC AMC IPO is a pure offer for sale. HDFC is selling a 4% stake in the company, while Standard Life Investments is selling 8%.
The IPO will largely be an offer for sale by private equity investor Advent. ASK might raise a small amount of fresh capital for business expansion.
Allcargo has appointed investment bank Avendus Capital to advise it on the fundraise.
For Temasek, which recorded a net portfolio value of $235 billion for the year ended 31 March, the India portfolio stands at around $10 billion, with an average yearly investment of $1 billion in the last five years.
TA Associates is selling 11.27% stake that will fetch ₹495 crore at the upper end of the price band. TA Associates holds 40.6% in TCNS Clothing.
Large investors such as sovereign wealth funds and pension funds also reported subdued activity in the first half of 2018 with a maximum of one to two deals each, a revision to the mean after a very active 2017, Bain said.
Selling the entire stake will fetch Punjab National Bank a little over ₹6,500 crore ($945 million), going by PNB Housing’s market capitalization of ₹19,957 crore on July 10.
Major QIP fundraises from companies this year include Idea Cellular, HDFC Ltd, Oberoi Realty, Jindal Steel and Power Ltd, L&T Finance Holdings Ltd, JM Financial Ltd and NCC Ltd.
India Next Fund, a multi-cap fund, will look to invest in sectors relating to India’s domestic economy such as engineering, capital goods and financials.