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HDFC Standard Life IPO oversubscribed 1.15 times

The IPO, estimated to raise Rs 8,695 crore, received bids for 25,17,92,650 shares against the total issue size of 21,97,59,218 shares

Press Trust of India  |  New Delhi 

IPOs

The initial public offer of Standard Life Company was oversubscribed 1.15 times so far on the second day of bidding on Wednesday. 

The IPO, estimated to raise Rs 8,695 crore, received bids for 25,17,92,650 against the total issue size of 21,97,59,218 shares, data till 1630 hrs showed.


Till yesterday, the IPO got subscribed 46 per cent.

Standard Life Company on Monday raised Rs 2,322 crore from anchor investors.

Price band for the offer, which will close tomorrow, has been fixed at Rs 275-290 per share.

The public issue comprises sale of 1,91,246,050 equity shares, amounting to 9.55 per cent stake, by Ltd and up to 1,08,581,768 scrips, or 5.42 per cent, holding by Standard Life Mauritius.

At present, owns 61.41 per cent stake in Standard Life and Standard Life has about 34.86 per cent stake, while the remaining is with employees and PremjiInvest.

Morgan Stanley Company, Bank, Credit Suisse Securities (India), CLSA and Nomura Financial Advisory and Securities (India) are the global co-ordinators and book running lead managers to the offer.

First Published: Wed, November 08 2017. 17:53 IST
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