Bookbuilding IPO | ₹8,695 Cr | Listed at BSE, NSE | Tue, Nov 7, 2017 - Thu, Nov 9, 2017
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 per share. The lot size for an application is 50. The minimum amount of investment required by an retail is ₹14,500 (50 shares) (based on upper price). 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 Open
Tue, Nov 7, 2017
IPO Close
Thu, Nov 9, 2017
Issue Price
₹290 per share
Market Cap (Pre-IPO)
₹58,260.22 Cr
| IPO Date | 7 to 9 Nov, 2017 |
| Listed on | Fri, Nov 17, 2017 |
| Face Value | ₹10 per share |
| Price Band | ₹275 to ₹290 |
| Issue Price | ₹290 per share |
| Lot Size | 50 Shares |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 29,98,27,818 shares (agg. up to ₹8,695 Cr) |
| Offer for Sale | 29,98,27,818 shares of ₹10 (agg. up to ₹8,695 Cr) |
| Share Holding Pre Issue | 2,00,89,73,222 shares |
| Share Holding Post Issue | 2,00,89,73,222 shares |
| BSE Script Code / NSE Symbol | 540777 / HDFCLIFE |
| ISIN | INE795G01014 |
HDFC Standard Life IPO comprises a total issue size of 29,98,27,818 shares. The net offer to the public is 26,68,95,517 shares, after excluding 3,29,32,301 shares under a preferential allotment. Of the Net offer 13,34,47,758 (50.00%) are allocated to QIB, 4,00,34,328 (15.00%) allocated to NII 9,34,13,431 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 13,34,47,758 | 50.00% | 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 | 15.00% | 13.35% | NA |
| Retail Shares Offered | 9,34,13,431 | 35.00% | 31.16% | 18,68,268 |
| Preferential Reservations | ||||
| 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% | 100.00% | |
Investors can bid for a minimum of 50 shares and in multiples thereof.
| 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 |
HDFC Standard Life IPO raises ₹2,321.99 crore from anchor investors. HDFC Standard Life IPO Anchor bid date is November 6, 2017.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Nov 6, 2017 |
| Shares Offered | 8,00,68,600 |
| Anchor Portion (₹ Cr.) | 2,321.99 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Dec 14, 2017 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Feb 12, 2018 |
| 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 | 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:
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.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 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 |
The HDFC Life IPO is subscribed 4.89 times on November 9, 2017 7:00:00 PM (Day 3). The public issue subscribed 0.91 times in the retail category, 16.6 times in the QIB category, and 2.29 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 16.6 | 5,33,79,158 | |
| NII | 2.29 | 4,00,34,328 | |
| Retail | 0.91 | 9,34,13,431 | |
| Employee | 1.22 | 29,49,520 | |
| Others | 0.29 | 2,99,82,781 | |
| Total | 4.89 | 21,97,59,218 |
| 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% |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the Managers | 35.61 |
| 2 | Selling commission and processing fees for SCSBs and Selling commission, brokerage, and bidding charges for the Syndicate Members, Registered Brokers, RTAs and CDPs | 17.31 |
| 3 | Fees payable to Registrar to the Offer | 0.70 |
| 4 | Printing and stationery expenses | 6.34 |
| 5 | Advertising and marketing expenses | 16.26 |
| 6 | Others: (i) Listing fees (ii) SEBI and Stock Exchanges processing fees (iii) Book building fees payable to Stock Exchanges (iv) Fees payable to Auditors (v) Fees payable to legal counsels (vi) Miscellaneous | 28.95 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹290.00 | ₹290.00 |
| Open | ₹311.00 | ₹310.00 |
| Low | ₹307.65 | ₹307.00 |
| High | ₹369.00 | ₹369.00 |
| Last Trade | ₹344.25 | ₹344.60 |
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 Crores. The issue is priced at ₹290 per share. The minimum order quantity is 50.
The IPO opens on Tue, Nov 7, 2017, and closes on Thu, Nov 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 Tue, Nov 7, 2017 and closes on Thu, Nov 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 Thu, Nov 16, 2017. Check the HDFC Standard Life IPO allotment status.
The HDFC Standard Life IPO listing date is on Fri, Nov 17, 2017.
