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HDFC Life IPO mops up Rs 8,695 crore

Press Trust of India  |  New Delhi 

Standard Life today said it has mopped up Rs 8,695.01 crore from its initial public offer.

Life, in consultation with merchant bankers, finalised the offer price at Rs 290 per share.


"Accordingly, the size of IPO aggregates to Rs 8695.01 crore consisting of 29.98 crore of Rs 10 each of Life, subject to finalisation of Basis of Allotment," Life said in a filing to the stock exchanges.

Standard Life Company earlier this week raised Rs 2,322 crore from anchor investors.

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.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 10 2017. 22:28 IST
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