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HDFC Life OFS retail investor portion garners 84% subscription

Retail investors bid for 8.4 million shares as against 10 million on offer, data from the exchanges showed

BS Reporter 

HDFC Life to raise exposure to capital goods stocks on govt infra push

The portion of Life Insurance Company’s offer for sale (OFS) garnered 84 per cent subscription. Retail investors bid for 8.4 million shares as against 10 million on offer, data from the exchanges showed. A day earlier, the institutional investor portion of the was subscribed more than two times.


The unsubscr­ib­ed shares in the retail segme­nt will be allotted to institution­al investors. Through the OFS, UK’s Standard Life has divested its 4.93 per cent stake to raise about Rs 3,600 crore. Merrill Lynch was the investment banker for share sale.

After the sale, Standard Life’s shareholding is 24.27 per cent. Shares of Life fell 1.43 per cent to end at Rs 366 on Wednesday.

First Published: Thu, March 14 2019. 01:03 IST
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