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HDFC Standard Life Files Prospectus With SEBI For IPO

HDFC Standard Life Files Prospectus With SEBI For IPO:

HDFC Standard Life Insurance Company has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) of 299.83 million shares with a face value of Rs 10 each.

The IPO will be entirely comprised of an offer for sale by the company’s promoters Housing Development Finance Corporation and Standard Life. HDFC will sell 9.57 per cent holding in the insurance firm while its partner Standard Life will sell 5.43 per cent.

Of the total number of shares on offer, 2.14 million shares will be reserved for purchase by eligible HDFC Standard Life employees, 805,000 shares will be reserved for purchase by eligible HDFC employees and 29.98 million shares will be reserved for purchase by eligible HDFC shareholders.

Therefore, the net offer to the public will consist of around 266.90 million shares. The entire offer will constitute 14.97 percent of the post-offer paid-up capital of the company, while the net offer will constitute 13.33 percent.

The IPO will make HDFC Life the third major life insurer to list on the stock markets after ICICI Prudential Life and SBI Life.

HDFC holds 61.52 per cent of the issued and paid-up share capital of HDFC Life, Standard Life owns 35 per cent, while the remaining is with employees and PremjiInvest.

Standard Life had in 2015, bought 9 per cent in the life insurance business for Rs 1,700 crore, valuing the business at about Rs 19,000 crore. HDFC Life last reported embedded value of Rs 12,389 crore.

Given that ICICI Prudential Life is trading at about four times its embedded value, HDFC Life could attract a valuation of about Rs 50,000 crore. Last month, HDFC Life board had approved selling up to 20 per cent of its equity in a public offering. The insurer had earlier sought the approval of the insurance regulator IRDAI for the IPO.

Another private sector insurer, SBI Life, had already filed prospectus for an IPO.

HDFC Life is the third largest private life insurance company in the country. It has market share of 6.8 per cent.

Market Update:

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Au Financiers Ltd (AUFL) IPO also able to list successfully and gave its investors over 51% listing gains.

While Salasar Techno Engineering Ltd IPO (STEL IPO) lists at over 150% gain on first day itself.

Security and Intelligence Services Ltd IPO (SIS IPO) lists at discount.While Cochin Shipyard Ltd IPO (CSL IPO) lists at good premium.

Now Apex Frozen Foods Ltd IPO (AFFL IPO) bidding is going to be active from August 22, 2017 – August 24, 2017. While Apex Frozen Foods Ltd IPO (AFFL IPO) Grey Market Premium (GMP) is trading between Rs 20 – Rs 22 per equity share.

Some SME IPO will also be active in market in coming week.

This year we can see some good IPO hitting market like NSE Ltd IPOHDFC Standard life insuranceSBI life insurance IPO etc.

Keep watching this blog to keep yourself updated with all the news.

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  1. Dear every one my friend Mr. Prakash vasava say don’t take HDFC LIFe product. There is so many Insurance company better than HDFC life because they’re very very very bad third class customer care services. There is no customer support levels all are same no one manager or High level all are executive level. Also all agents are frauds. They give only wrong commitments. Don’t trust anyone products of this insurance company. If you are in problems there is no one contact or call you to understand your query. They are only one thing if you take any products then you have all knowledge but what about some hidden things? Also if you know all commitments are wrong but there is no any support by theme if you have all evidence than also you are wrong not his agent or broker. Don’t trust any broker of HDFC life all are frauds and full support of HDFC life so they can do anything for money. So dear one don’t go for HDFC life go another insurance company they really your care and good customer care. HDFC life customer care is very very bad customer care. I have so many things to share you but if someone ask me to refer i never never refer any one to go for this HDFC life products.

    1. Hi Although we don’t promote any negative statement like this but just for our readers protection can you please share any negative experience since just general statement is not going to work.

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