The initial public offer of HDFC Standard Life Insurance 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 shares against the total issue size of 21,97,59,218 shares, NSE data till 1630 hrs showed.
Till yesterday, the IPO got subscribed 46 per cent.
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 HDFC Ltd and up to 1,08,581,768 scrips, or 5.42 per cent, holding by Standard Life Mauritius.
Morgan Stanley India Company, HDFC Bank, Credit Suisse Securities (India), CLSA India and Nomura Financial Advisory and Securities (India) are the global co-ordinators and book running lead managers to the offer.