HomeIPO 2017HDFC Standard Life IPO Date, Review, GMP, Share Price and Analysis
October 25, 2017
HDFC Standard Life IPO Date, Review, GMP, Share Price and Analysis
HDFC Life (HDFC Standard Life Insurance Company) is a long-term life insurance provider with its headquarters in Mumbai, offering individual and group insurance.
It is a joint venture between Housing Development Finance Corporation Ltd (HDFC), one of India’s leading housing finance institution and Standard Life Aberdeen PLC, leading well known provider of financial savings & investments services in the United Kingdom. On August 14, 2015 HDFC Ltd. entered into a share sale agreement with Standard Life to sell a 9.00% stake in HDFC Life to the latter. The transaction is subject to receipt of regulatory approvals. Post the completion of the above transaction, HDFC will hold 61.65% stake in HDFC Life and Standard Life’s stake will increase to 35.00%, with rest to be held by others. According to merchant banking sources, the initial public offer (IPO) is expected to be worth Rs 7,500 crore.
HDFC Life has about 398 branches and presence in 980+ cities and towns in India. The company has also established a liaison office in Dubai.
HDFC Life distributes its products through a multi channel network consisting of Insurance agents, Bancassurance partners (HDFC Bank, Saraswat Bank, RBL Bank), Direct channel, Insurance Brokers & Online Insurance Platform.
HDFC Standard Life IPO Price Dates Details
Issue Open: Nov 7, 2017 – Nov 9, 2017
Issue Type: Book Built Issue IPO
Issue Size: 299,827,818 Equity Shares of Rs 10 aggregating up to Rs 8,695.01 Cr
› Offer for Sale of 299,827,818 Equity Shares of Rs 10 aggregating up to Rs [.] Cr
Face Value: Rs 10 Per Equity Share
Issue Price: Rs 275 – Rs 290 Per Equity Share
Market Lot: 50 Shares
Minimum Order Quantity: 50 Shares
Listing At: BSE, NSE
Company Contact Information
HDFC Standard Life Insurance Company Ltd
13th Floor, Lodha Excelus, Apollo Mills Compound,
N.M. Joshi Marg, Mahalaxmi,
Mumbai 400 011
Phone: +91 (22) 6751 6666
Fax: +91 (22) 6751 6861
Email: [email protected]
HDFC Life IPO Registrar
Karvy Computershare Private Limited
Karvy House, 46, Avenue 4, Street No. 1,
Banjara Hills, Hyderabad – 500 034
Andhra Pradesh, India