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HDFC Life's $1.3 billion Indian IPO nearly five times subscribed

Reuters  |  MUMBAI 

MUMBAI (Reuters) - HDFC Standard Life Insurance Co. Ltd's initial public offering was subscribed 4.9 times on the last day of the sale on Thursday, in what was the fourth billion dollar-plus IPO in India this year.The insurer's two main shareholders aim to raise 86.95 billion rupees ($1.3 bln) from the offering, and institutional investors bid for 16.6 times the number of shares on offer for that segment, while the retail portion was subscribed 91 percent, data as of 1330 GMT showed.India has seen a record year for IPOs with more than $11 billion of initial share sales, including HDFC Life's, ...

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First Published: Thu, November 09 2017. 21:58 IST