HDFC Life Insurance Company Ltd.

HDFC Standard Life Insurance company, a subsidiary of mortgage lender HDFC, has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to float its initial public offering (IPO). The public offer comprises sale of 1,91,246,050 equity shares, amounting to 9.55 percent stake, by HDFC and up to 1,08,581,768 scrips or 5.42 per cent holding by Standard Life Mauritius.

The object of the Offer is to achieve the benefits of listing the Equity Shares on the Stock Exchanges. Morgan Stanley, HDFC Bank, Credit Suisse, CITIC CLSA and Nomura are the global coordinators and book running lead managers. Edelweiss, Haitong, IDFC, IIFL and UBS are the other merchant bankers involved in the issue.

HDFC Life is one of the leading life insurance companies in India offering a range of individual and group insurance solutions that meet various customer needs such as Protection, Pension, Savings & Investment and Health, along with Children's and Women's Plan.