HDFC Standard Life Insurance Incorporated in 2000, HDFC Life is Mumbai based life insurance provider in India. HDFC Life offers a wide range of individual and group insurance solutions including Protection, Pension, Savings & Investment and Health, along with Children's and Women's Plan. India’s IPO market is on very busy schedule, back toback public offers and although not every IPO is making money, investors have a lot to choose from. The latest in line is HDFC Standard Life Insurance IPO which opens for subscription on 7 November 2017. The offer, priced in the range of INR275 – 290 per share, aims to mobilize as much as INR8,695 crore by selling 299,827,818 shares. All the shares will be offered by existing shareholders, valuing the firm at nearly INR58,277.5 crore at the upper end of the price band.
It is the first initial public offering by a company promoted by HDFC, since the initial public offering of HDFC Bank in 1995, While the HDFC group has a solid reputation, it remains to be seen if the offer manages to reward IPO investors which haven’t made money so far from offers of insurance companies. Through HDFC Life IPO review, we try to find out if the company’s valuation leaves something on the table for investors.
HDFC Standard Life Insurance IPO details | |
| Subscription Dates | 7 – 9 November 2017 |
| Price Band | INR275 – 290 per share |
| Fresh issue | Nil |
| Offer For Sale | 299,827,818 shares (INR8,245.26 – 8,695 crore) |
| Total IPO size | 299,827,818 shares (INR8,245.26 – 8,695 crore) |
| Minimum bid (lot size) | 50 shares |
| Face Value | INR10 per share |
| Retail Allocation | 35% |
| Listing On | NSE, BSE |
Company Promoters:
The Promoters of the Company are:- Housing Development Finance Corporation Limited ("HDFC");
- Standard Life (Mauritius Holdings) 2006 Limited ("Standard Life Mauritius"); and
- Standard Life Aberdeen plc ("Standard Life Aberdeen").
Company Contact Information
HDFC Standard Life Insurance Company Ltd
13th Floor, Lodha Excelus, Apollo Mills Compound,
N.M. Joshi Marg, Mahalaxmi,
Mumbai 400 011
Phone: +91 (22) 6751 6666
Fax: +91 (22) 6751 6861
Email: investor.service@hdfclife.com
Objects of the Issue:
The objects of the issue are:- To achieve the benefits of listing the Equity Shares on the Stock Exchanges and
- To carry out the sale of Offered Shares by the Selling Shareholders.
- Bid/Offer Opens On: November 07, 2017
- Bid/Offer Closes On: November 09, 2017
- Finalisation of Basis of Allotment: On or about November 14, 2017
- Initiation of refunds: On or about November 15, 2017
- Credit of Equity Shares to demat accounts: On or about November 16, 2017
- Commencement of trading of the Equity Shares on the Stock Exchanges: On or about November 17, 2017
HDFC Life IPO Recommendation
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Issue Subscription Detail / Current Bidding Status
| HDFC Standard Life Insurance Company Limited | ||||
| Sr.No. | Category | No.of shares offered/reserved | No. of shares bid for | No. of times of total meant for the category |
| 1 | Qualified Institutional Buyers (QIBs) | 53379158 | 197119050 | 3.69 |
| 1(a) | Foreign Institutional Investors(FIIs) | 167181350 | ||
| 1(b) | Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) | 1724100 | ||
| 1(c) | Mutual funds | 19593000 | ||
| 1(d) | Others | 8620600 | ||
| 2 | Non Institutional Investors | 40034328 | 19884650 | 0.50 |
| 2(a) | Corporates | 4561850 | ||
| 2(b) | Individuals(Other than RIIs) | 14225100 | ||
| 2(c) | Others | 1097700 | ||
| 3 | Retail Individual Investors(RIIs) | 93413431 | 34080050 | 0.36 |
| 3(a) | Cut Off | 29498500 | ||
| 3(b) | Price bids | 4581550 | ||
| 4 | Employees | 2949520 | 2280600 | 0.77 |
| 4(a) | Cut Off | 1848550 | ||
| 4(b) | Price bids | 432050 | ||
| 5 | Shareholders | 29982781 | 4507500 | 0.15 |
| 5(a) | Cut Off | 3917650 | ||
| 5(b) | Price bids | 589850 | ||
| Total | 219759218 | 257871850 | 1.17 | |
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