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India's HDFC Life revives IPO plan as Max Life deal struggles

Reuters  |  MUMBAI 

MUMBAI (Reuters) - India's HDFC Standard Life Insurance Co Ltd said on Monday it had revived a planned initial public offering, as it struggles to get regulatory approval to buy smaller rival Max Life.Indian mortgage lender Housing Development Finance Corp Ltd and its joint venture partner Britain's Standard Life Plc plan to sale a combined maximum of 20 percent in HDFC Life, according to a regulatory filing.HDFC Life agreed in August to take over smaller rival Max Life Insurance in an all-stock deal that would have created the nation's top private life insurer.As part of the deal, Max Life ...

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First Published: Mon, July 17 2017. 23:38 IST