The HDFC Life IPO date has been confirmed from November 7, 2017 and ended on November 9, 2017.
Using an IPO, HDFC Life is seeking to raise Rs 8,695.01 crores. Its price band is set at ₹275 to ₹290 per share. The minimum lot size for an application is 50 Shares. The minimum amount of investment required by retail investors is ₹14,500.
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Bidding Dates
November 7-9
Price Range
₹275 to ₹290 per share
Face Value
₹10 per share
GMP
₹707.35
HDFC Life IPO GMP
The HDFC Life Limited IPO GMP is ₹707.35.
IPO Overview
The HDFC Life IPO is a book-built offering worth Rs 8,695.01 crores. The offering consists fully of 29.98 crore shares for sale. Bidding for the HDFC Life IPO began on November 7, 2017 and closed on November 9, 2017. The HDFC Life IPO allotment was completed on Tuesday, November 14, 2017. On November 17, 2017, the shares were listed on the BSE and NSE. The pricing range for the HDFC Life IPO is set at 275 to 290 per share. An application requires a minimum lot size of 50 Shares. Retail investors must make a minimum investment of $14,500.
HDFC Life distributes policies through a network of multiple channels. Direct sales through own branches, insurance agents, partner banks, and other financial organisations are included. In India, HDFC Life has 414 branches and 15,406 full-time workers. Over 58,147 individual agents work for the company.
HDFC Life IPO Details
| IPO Date | November 7, 2017 to November 9, 2017 |
| Listing Date | November 17, 2017 |
| Face Value | ₹10 per share |
| Price Band | ₹275 to ₹290 per share |
| Lot Size | 50 Shares |
| Total Issue Size | 299,827,818 shares (aggregating up to ₹8,695.01 Cr) |
| Offer for Sale | 299,827,818 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
HDFC Life IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 50 | ₹14,500 |
| Retail (Max) | 13 | 650 | ₹188,500 |
HDFC Life IPO Timeline
| IPO Open Date | Tuesday, November 7, 2017 |
| IPO Close Date | Thursday, November 9, 2017 |
| Basis of Allotment | Tuesday, November 14, 2017 |
| Initiation of Refunds | Wednesday, November 15, 2017 |
| Credit of Shares to Demat | Thursday, November 16, 2017 |
| Listing Date | Friday, November 17, 2017 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 9, 2017 |
Company Profile
HDFC Standard Life Insurance Company Ltd (HDFC Life) is a Mumbai-based life insurance provider that was founded in 2000. HDFC Life provides individual and group insurance solutions such as Protection, Pension, Savings & Investment, and Health, as well as Children’s and Women’s Plans. HDFC Life is a partnership formed by HDFC and Standard Life Aberdeen plc. HDFC is a significant provider of financial services in India, providing home finance, banking, life and general insurance, asset management, venture capital, and education loans. Standard Life is an
Edinburgh-based investment firm that provides a wide range of financial services around the world. Standard Life was founded in 1825 as a public company.
Registrar Info
| Name | Kfin Technologies Limited |
| Phone number | 04067162222, 04079611000 |
| Email ID | einward.ris@karvy.com |
| Website | kosmic.kfintech.com |
Contact Details
| Name | HDFC Standard Life Insurance Company Ltd |
| Phone number | +91 (22) 6751 6666 |
| Email ID | investor.service@hdfclife.com |
| Website | hdfclife.com |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
