HDFC Standard Life to make stock market debut tomorrow
HDFC Standard Life Insurance Company, which has recently concluded its Rs 8,695-crore initial public offering, will make a debut on stock exchanges tomorrow.
The shares will be listed on the BSE and the NSE, the company said.
The IPO, which was open for subscription on November 7-9, was subscribed 4.89 times at a price band of Rs 275-290 per share.
The public issue comprised sale of 1,91,246,050 shares, amounting to 9.55 per cent stake, by HDFC and up to 1,08,581,768 shares, or 5.42 per cent holding, by Standard Life Mauritius.
Earlier, HDFC Standard Life Insurance had raised Rs 2,322 crore from anchor investors.
Morgan Stanley India Company, HDFC Bank, Credit Suisse Securities (India), CLSA India and Nomura Financial Advisory and Securities (India) were the global coordinators and book running lead managers to the offer.