HDFC Stan­dard Life In­surance IPO opens on 7th Novem­ber

Money Times - - Market Outlook -

HDFC Stan­dard Life In­surance Co. (HDFC Stan­dard Life), a sub­sidiary of mort­gage lender HDFC, plans to raise Rs.8700 crore through its IPO in the price band of Rs.275-290 for its Rs.10 paid-up eq­uity share. The IPO is an of­fer for sale (OFS) com­pris­ing 191,246,050 eq­uity shares by HDFC Stan­dard Life and up to 108,581,768 eq­uity shares by UK-based Stan­dard Life. The is­sue closes on Thurs­day, 9 Novem­ber 2017. HDFC Stan­dard Life is one of the most prof­itable life in­sur­ers in In­dia based on value of New Busi­ness (VNB) mar­gin. It has a pan In­dia pres­ence through 414 branches and spokes across In­dia as at 30 Septem­ber 2017, sup­ported by a work­force of 16,544 em­ploy­ees. Its prod­uct port­fo­lio com­prises 32 in­di­vid­ual and 10 group prod­ucts be­sides 8 op­tional rider ben­e­fits.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.