 "HDFC Standard Life IPO to open on November 7")
HDFC Standard Life Insurance Company’s Rs 8,700-crore Initial Public Offer (IPO) will remain open between November 7 and November 9. The company has set the price band at Rs 275 to Rs 290 per share.
The private sector insurer is a joint venture between domestic mortgage lender HDFC and UK-based Standard Life. Currently, HDFC owns 61.12 per cent and Standard Life 34.75 per cent of the insurer, while minority shareholders, including PremjiInvest, hold the remaining. In the IPO, HDFC will be selling shares worth Rs 5,550 crore and Standard Life will shares worth Rs 3,150 crore.
Following the IPO, HDFC’s stake will come down to 51.69 per cent and Standard Life’s shareholding will reduce to 29.35 per cent.
At the top end of the price band, HDFC Standard Life will be valued at around Rs 58,100 crore.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%