HDFC Standard Life IPO will close on 9 November. Photo: BloombergNew Delhi: The initial public offering (IPO) of HDFC Standard Life Insurance Co. Ltd was fully subscribed on Wednesday, the second day of the offering, driven by demand from institutional investors, data from stock exchanges showed. At the upper end of the price band, HDFC Standard Life Insurance will be valued at Rs58,277 crore. In fiscal 2017, HDFC Standard Life’s new business premium grew 34% to Rs8,696.3 crore, from the previous year. The HDFC Standard Life IPO is the third largest this year after GIC Re’s Rs11,372 crore and NIA’s Rs9,600 crore share sales.

Source: Mint November 08, 2017 08:00 UTC