HDFC Life Insurance Company Ltd.

HDFC Standard Life Insurance’s promoter, Standard Life, will sell up to 4.93 per cent in the life insurance firm through offer for sale (OFS). Standard Life (Mauritius Holdings) will sell stake through OFS on March 12 and the floor price for the sale will be Rs 357.50 per share.

Standard Life proposes to sell up to Rs 7 crore shares representing 3.47 per cent with an option to additionally sell up to Rs 2.95 crore shares representing 1.46 per cent of the total issued and paid-up capital.

Currently, Standard Life holds 29.2 per cent stake in the life insurance company while mortgage firm HDFC has a 51.5 per cent stake. After the stake sale, Standard life's holding in insurance company will come down to 24.27 per cent.

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.