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HDFC Life IPO Mops Up Rs 8,695 Crore

10 November, 2017 6:47 PM
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HDFC Life IPO Mops Up Rs 8,695 Crore

New Delhi: HDFC Standard Life Insurance today said it has mopped up Rs 8,695.01 crore from its initial public offer.

HDFC Life, in consultation with merchant bankers, finalised the offer price at Rs 290 per share.

HDFC Standard Life Insurance Company earlier this week raised Rs 2,322 crore from anchor investors.

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.

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.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

Also read: BNP Cardif to cut stake in SBI Life Insurance


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