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HDFC Standard Life IPO Gets Approval From SEBI

HDFC Standard Life IPO Gets Approval From SEBI:

HDFC Standard Life Insurance Company has received market regulator SEBI’s go ahead for launching its initial public offering (IPO). As per market estimates HDFC Standard Life IPO issue can raise around Rs. 7,500 crore.

The public issue comprises sale of 1,91,246,050 equity shares, amounting to 9.55 per cent stake, by HDFC Ltd and up to 1,08,581,768 scrips, or 5.42 per cent, holding by Standard Life Mauritius, according to the draft red herring prospectus (DRHP) filed with SEBI.

Currently, HDFC owns 61.41 per cent stake in HDFC Standard Life and Standard Life has about 34.86 per cent, while the remaining is with employees and PremjiInvest.

“The objects of the offer are to achieve the benefits of listing the equity shares on the stock exchanges.

“The listing of equity shares will enhance the ‘HDFC Life’ brand name and provide liquidity to the existing shareholders. The listing will also provide a public market for equity shares in India,” HDFC Standard Life said.

Morgan Stanley India Company, HDFC Bank, Credit Suisse Securities, CLSA India, Nomura Financial Advisory and Securities are the global co—ordinators, while Edelweiss Financial Services, Haitong Securities, IDFC Bank, IIFL Holdings, UBS Securities are the book running lead managers to the issue.

Market Update:

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While Matrimony.com Ltd IPO (Matrimony IPO) listed at 8.51% discount. Now Capacit’e Infraprojects Ltd IPO (CIL IPO) lists at 36.96% Premium.

ICICI Lombard General Insurance Company IPO also able to lists successfully at 3.1% Premium.

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Godrej Agrovet Ltd IPO (GAL IPO) also lists at 29.47% Premium.

Now MAS Financial Services Ltd IPO (MFSL IPO) got good overall subscription.  MAS Financial Services IPO Allotment and Listing will be in process.

While MAS Financial Services Ltd (MFSL) IPO Grey Market Premium (GMP) is trading between Rs 215 – Rs 225 per equity share.

Indian Energy Exchange Ltd IPO (IEX IPO) subscription also closed successfully. Now Indian Energy Exchange IPO Allotment and Listing will be in process.

While Indian Energy Exchange Ltd (IEX) IPO Grey Market Premium (GMP) is not trading as of now.

General Insurance Corporation of India IPO (GIC RE IPO) also able to subscribe fully. Now General Insurance Corporation IPO Allotment and Listing will be in process..

General Insurance Corporation Of India (GIC RE) IPO Grey Market Premium (GMP) is trading at discount of Rs 25 – Rs 30 per equity share.

Reliance Nippon Life Asset Management Ltd IPO (RNAM IPO) is going to be active from October 25, 2017 – October 27, 2017.

While Reliance Nippon Life Asset Management Ltd (RNAM) IPO Grey Market Premium (GMP) is trading between Rs 55 – Rs 65 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 insurance etc.

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

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