HDFC Life's Rs 8695-crore IPO opens on November 7

Moneycontrol News

The Rs 8695 crore initial public offering (IPO) of private private life insurer HDFC Standard Life Insurance will open on November 7 and close on November 9. At the upper end of the price brand, the insurer has been valued at Rs 58260 crore.

The price band for the offer is fixed from Rs 275 per equity share to Rs 290 per equity share. This will be the third life insurer after ICICI Prudential Life Insurance and SBI Life Insurance to be listed on the stock markets.

It consists of an initial public offering up to 299,827,818 equity shares of face value of ₹10 each (“equity shares”) which comprises an offer for sale of 191,246,050 equity shares by Housing Development Finance…