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HDFC Standard Life IPO is a book build issue of ₹8,695.01 crores. The issue is entirely an offer for sale of 29.98 crore shares of ₹8,695.01 crore.
HDFC Standard Life IPO bidding started from Nov 7, 2017 and ended on Nov 9, 2017. The allotment for HDFC Standard Life IPO was finalized on Nov 14, 2017. The shares got listed on BSE, NSE on Nov 17, 2017.
HDFC Standard Life IPO price band is set at ₹290.00 per share . The lot size for an application is 50. The minimum amount of investment required by an retail is ₹13,750 (50 shares). The lot size investment for sNII is 14 lots (700 shares), amounting to ₹2,03,000, and for bNII, it is 69 lots (3,450 shares), amounting to ₹10,00,500.
The issue includes a reservation of up to 29,49,520 shares for employees offered at a discount of ₹0.00 to the issue price.
CLSA India Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to HDFC Standard Life IPO RHP for detailed Information.
| IPO Date | November 7, 2017 to November 9, 2017 |
| Listing Date | November 17, 2017 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹275 to ₹290 per share |
| Issue Price Final | ₹290 per share |
| Lot Size | 50 Shares |
| Sale Type | Offer For Sale |
| Total Issue Size | 29,98,27,818 shares (aggregating up to ₹8,695.01 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 2,00,89,73,222 shares |
| Share Holding Post Issue | 2,00,89,73,222 shares |
HDFC Standard Life IPO offers total 29,98,27,818 shares. Out of which 13,34,47,758 (44.51%) allocated to QIB, 5,33,79,158 (17.80%) allocated to QIB, 4,00,34,328 (13.35%) allocated to NII, 9,34,13,431 (31.16%) allocated to RII and 8,00,68,600 (26.70%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 13,34,47,758 (44.51%) | NA |
| − Anchor Investor Shares Offered | 8,00,68,600 (26.70%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 5,33,79,158 (17.80%) | NA |
| NII (HNI) Shares Offered | 4,00,34,328 (13.35%) | NA |
| Retail Shares Offered | 9,34,13,431 (31.16%) | 18,68,268 |
| Employee Shares Offered | 29,49,520 (0.98%) | NA |
| Shareholders Shares Offered | 2,99,82,781 (10.00%) | NA |
| Total Shares Offered | 29,98,27,818 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only shareholder | Up to Rs 2 Lakhs | Allowed only if bidding amount is upto Rs 2 lakhs |
| Only employee | Up to | Yes |
| Employee + Shareholder |
|
Yes |
| Employee + Shareholder + RII/NII |
|
Yes for shareholder/employee/RII |
| Shareholder + RII/NII |
|
Yes for shareholder/RII |
| Employee + RII/NII |
|
Yes for shareholder/RII |
Note: To be eligible for the Shareholder Quota, you must hold shares in one of the following companies:
HDFC Standard Life IPO opens on November 7, 2017, and closes on November 9, 2017.
| IPO Open Date | Tue, Nov 7, 2017 |
| IPO Close Date | Thu, Nov 9, 2017 |
| Tentative Allotment | Tue, Nov 14, 2017 |
| Initiation of Refunds | Wed, Nov 15, 2017 |
| Credit of Shares to Demat | Thu, Nov 16, 2017 |
| Tentative Listing Date | Fri, Nov 17, 2017 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Nov 9, 2017 |
Investors can bid for a minimum of 50 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 50 | ₹14,500 |
| Retail (Max) | 13 | 650 | ₹1,88,500 |
| S-HNI (Min) | 14 | 700 | ₹2,03,000 |
| S-HNI (Max) | 68 | 3,400 | ₹9,86,000 |
| B-HNI (Min) | 69 | 3,450 | ₹10,00,500 |
Incorporated in 2000, HDFC Standard Life Insurance Company Ltd (HDFC Life) is Mumbai based life insurance provider in India. HDFC Life offers a wide range of individual and group insurance solutions including Protection, Pension, Savings & Investment and Health, along with Children's and Women's Plan.
HDFC Life is a joint venture between HDFC and Standard Life Aberdeen plc. HDFC is a leading financial service provider in India offering finance for housing, banking, life and general insurance, asset management, venture capital and education loans. Standard Life is an Edinburgh based investment company offering wide range of financial services across the globe. Standard Life is a public company established in 1825.
HDFC Life sells policies through a multi channel network. This includes direct sales through own branches, Insurance agents, Partner Banks and through other financial institutions. HDFC Life has over 414 branches and 15,406 full-time employees located across India. Company has over 58,147 individual agents.
The Company HDFC Standard Life IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | To achieve the benefits of listing the Equity Shares on the Stock Exchanges | |
| 2 | To carry out the sale of Offered Shares by the Promoter Selling Shareholders |
[Dilip Davda] Based on faring of recent IPOs in life insurance sector, cash surplus risk savvy investors may consider moderate investment for medium to long term in this HDFC group IPO coming after 22 years. (High Risk – Low Return). Read detail review...
| Particulars | ICICI Prudentials | SBI Life Insurance | HDFC Std Life |
|---|---|---|---|
| Group | ICICI | SBI | HDFC |
| JV Partner | Prudential Life | BNP Paribas | Standard Life |
| FV | 10 | 10 | 10 |
| Price band | Rs. 300-334 | Rs. 685-700 | Rs. 275-290 |
| Shares allotted at | Rs. 334 | Rs. 700 | NA |
| Issue Size (Rs. Crore | Rs. 6057 crore | Rs. 8400 crore | Rs. 8245-8695 |
| Minimum application lot | 44 shares | 21 shares | 50 shares |
| P/E at the time of IPO | 29 | 55 | 65 |
| P/BV at the time of IPO | 9 | 11.9 | 15 |
| RoE (FY15-17 average) | 31.20% | 20.10% | 29.40% |
| AUM (FY17) Rs. Bn. | Rs. 1229.0 | Rs. 977.0 | Rs. 917.0 |
| Solvency ratio (FY17) | 281.00% | 204% | 192% |
| Claim Settlement Ratio (FY17) | 97.20% | 98.00% | 99.20% |
| Issue constituted dilution of | 19.10% | 16% | 14.90% |
| Post issue promoter's holding | 81% | 84% | 81.04% |
| Issue date | 19.09.16-21.09.16 | 20.09.17-22.09.17 | 07.11.17-09.11.17 |
| Listing on | BSE/NSE | BSE/NSE | BSE/NSE |
| Issue subscribed by | 10.48 times | 3.55 times | NA |
| Opened @ on listing day | Rs. 329.00 | Rs. 733.30 | NA |
| High of Listing day | Rs. 333.90 | Rs. 738.00 | NA |
| Low of Listing day | Rs. 295.50 | Rs. 702.25 | NA |
| Close on listing day | Rs. 297.65 | Rs. 708.00 | NA |
| Mkt Share (FY17) | 15.50% | 20% | 17.20% |
| Total No. of Products | 28 | 39 | 40 |
| EV (FY17) Rs. Bn. | Rs. 161.8 | Rs. 165.4 | Rs. 123.90 |
| Dividend pay out ratio | 39.50% | 18.90% | 29.60% |
| Surrender Ratio (v/s total premium) (FY17) | 52.76% | 22.79% | 31.33% |
| Market share (Industry level) FY17 | 12% | 11.20% | 6.80% |
| Market share (Private Sector) FY17 | 22.30% | 20.70% | 12.70% |
| Listing Date | November 17, 2017 |
| BSE Script Code | 540777 |
| NSE Symbol | HDFCLIFE |
| ISIN | INE795G01014 |
| Final Issue Price | ₹290 per share |
| BSE Listing Group | B |
HDFC Standard Life Insurance Co.Ltd.
13th Floor, Lodha Excelus, Apollo Mills Compound,
N.M. Joshi Marg, Mahalaxmi,
Mumbai 400 011
Mumbai, Maharashtra
Phone: +91 (22) 6751 6666
Email: investor.service@hdfclife.com
Website: https://www.hdfclife.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://ipostatus.kfintech.com/
Lead Manager Reports
HDFC Standard Life IPO is a main-board IPO of 29,98,27,818 equity shares of the face value of ₹10 aggregating up to ₹8,695.01 Crores. The issue is priced at ₹290 per share. The minimum order quantity is 50.
The IPO opens on November 7, 2017, and closes on November 9, 2017.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in HDFC Standard Life IPO using UPI as a payment gateway. Zerodha customers can apply in HDFC Standard Life IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in HDFC Standard Life IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The HDFC Standard Life IPO opens on November 7, 2017 and closes on November 9, 2017.
HDFC Standard Life IPO lot size is 50, and the minimum amount required for application is ₹14,500.
You can apply in HDFC Standard Life IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for HDFC Standard Life IPO will be done on Tuesday, November 14, 2017, and the allotted shares will be credited to your demat account by Thursday, November 16, 2017. Check the HDFC Standard Life IPO allotment status.
The HDFC Standard Life IPO listing date is on Friday, November 17, 2017.
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