Saturday, 19 August 2017

Money Maker Research News - HDFC Life Insurance files DRHP with Sebi for IPO

HDFC Life Insurance Co. Ltd on Friday filed its DRH prospectus with the market regulator Sebi for an IPO of 299.8 million shares. As per the prospectus, HDFC Life will dilute about 9.55 percent stake and its JV Company Standard Life will offload about 5.42% in the offer.

Merchant bankers for HDFC Life Offer’s include Stanley Morgan, Credit Suisse, HDFC Bank and Nomura. HDFC Life is a JV between HDFC Ltd and UK’s Standard Life, with 61.52% and 35% respectively. Further, the state-run SBI-promoted life insurer, SBI Life Insurance Co. Ltd, is working on its IPO plans.

For the fiscal 2016-17, HDFC Life Insurance registered a gross premium income of Rs. 19,445.00 cr, and its profit after tax (PAT) for the year reached at Rs. 892 crore.

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