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HDFC Standard Life Insurance To Debut On Bourses On November 17?

1561 Viewed Pallavi Kumar Comments Off on HDFC Standard Life Insurance To Debut On Bourses On November 17?

After receiving desirable subscription to the public problem, HDFC preferred Life Insurance corporation is ready to debut on exchanges on november 17.

The Subsidiary of housing finance foremost hdfc has constant problem charge at better end of fee band of Rs 275-290 in keeping with proportion.

This will be 1/3 lifestyles Insurance business enterprise getting list on exchanges, after icici prudential existence and SBI existence.

The Rs 8,695-crore preliminary public offer (IPO) become subscribed 4.90 instances at some point of november 7-nine, 2017.

The category reserved for certified institutional customers (QiBS) became subscribed 16.60 times, non-institutional traders 2.29 instances and retail investors 94 percent.

The general public trouble comprised sale of 19,12,46,050 fairness shares (Representing 9.55% of paid-up equity capital), by way of hdfc and up to 10,85,eighty one,768 shares (5.42%) holding VIA popular life Mauritius.

At gift, HDFC owns 51.69 percentage stake in HDFC trendy life and standard life has about 29.35% stake.

The global coordinators and book running lead managers to the provide have been morgan stanley india agency, HDFC bank, credit suisse securities (India), clsa India and nomura monetary advisory and securities (India).

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