HDFC Standard Life Insurance Company (HDFC
Life) aims to go public with its IPO, which opened today and will close on
9 November 2017. HDFC Life issue was
subscribed 5% at 11:45 am, as per NSE data.
HDFC Life has expected to garner Rs
8,695.01 crore at the upper end of the price band through its share sale in a 3-day
bidding process starting today. The company has set a price band of Rs 275 - 290
for its IPO, in which HDFC will offload 9.52% and Standard Life will do 5.4% each.
The total number of shares on sale
are 29.98 crore with each having a face value of Rs.10. After the IPO,
HDFC Life's market cap will range between Rs. 55,247 crore and Rs. 58,260
crore at the lower and upper share price, respectively.
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