HDFC, Standard Life to sell 15% stake in HDFC Life via IPO

Last week, HDFC Standard Life Insurance Company decided to list its shares through an IPO

The Housing Development Finance Corporation (HDFC) and Standard Life have offered to sell 15 per cent of the paid-up equity share capital in HDFC Standard Life Insurance via an initial public offering (IPO). HDFC will sell 9.57 per cent of its stake in HDFC Life, whereas Standard Life will sell 5.43 per cent.
 

HDFC, which holds 61.5 per cent stake in HDFC Standard Life, will offload about 191 million equity shares of Rs 10 each through the IPO. Whereas, Standard Life, the UK-based foreign partner in HDFC Life holding 35 per cent stake, has decided to sell about 108 million