which a joint venture between HDFC Ltd (61.52%) and UK’s Standard Life (35%), will sell a 14.97% stake via its IPO. Photo: MintMumbai: HDFC Life Insurance Co. Ltd. (HDFC Life) on Friday filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) ahead of launching its initial public offering (IPO) to sell a 14.97% stake. As per the prospectus filed with Sebi, HDFC will dilute about 9.55% stake and Standard Life will offload about 5.42% in the IPO. HDFC Life is a joint venture between HDFC Ltd (61.52%) and UK’s Standard Life (35%). At present, apart from HDFC Life, state-run SBI-promoted life insurer—SBI Life Insurance Co. Ltd—is working on its IPO plans.

Source: Mint August 18, 2017 16:18 UTC