HDFC Standard Life IPO To Hit Market On Nov 7

Posted By:
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    HDFC Standard Life Insurance Company, a subsidiary of mortgage lender HDFC, today said its initial public offer (IPO) will hit the market on November 7.

    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 a regulatory filing on stock exchanges. New India Assurance Rs 10,000 crore IPO: Things To Know

    HDFC Standard Life IPO To Hit Market On Nov 7

    "We further wish to inform you that the IPO will be open for subscription by anchor investors on November 6 and by the public on November 7 and shall close on November 9. The price band for the same will be intimated in due course," it said. According to merchant banking sources, promoters are expected to get about Rs 7,500 crore from the stake dilution.

    At present, HDFC owns 61.41 per cent stake in HDFC Standard Life, and Standard Life has about 34.86 per cent stake, 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. Mahindra Logistics IPO: Price Band Fixed At Rs 425-429

    Goodreturns.in

    Read more about: hdfc standard life ipo
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more