HDFC Life Insurance Company Ltd.

HDFC Standard Life Insurance company, a subsidiary of mortgage lender HDFC, is coming out with an initial public offering (IPO) to raise up to Rs 8,695 crore in a price band Rs 275- 290  per equity share. The issue will open on November 7, 2017 and will close on November 9, 2017. The public offer will 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 objects of the Offer are 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.