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SEBI Approves HDFC Standard Life’s IPO Request
October 24, 2017
The Securities and Exchange Board of India (SEBI) has given a nod to HDFC Standard Life Insurance Co. Ltd. to raise as much as Rs. 7,500 crores by holding an Initial Public Offering (IPO).
HDFC Standard Life had submitted the draft papers to SEBI in August and obtained its “observations” on October 13.
Currently, the equity distribution of HDFC Standard Life is:
- HDFC-61.41%
- Standard Life- 34.86%
- Remaining- PremjiInvest and the employees of the company
