Only ICICI Prudential Life Insurance Co. Ltd, which listed a year ago, armed with the first-mover advantage, is trading 18% higher than its issue price. In this background, HDFC Standard Life Insurance Co. Ltd will launch its IPO through which the promoters look to raise Rs8,695 crore by selling 299 million shares to the public. The deal had put the valuation at 4.5 times HDFC Standard Life’s estimated embedded value of FY16 at that time. The IPO values HDFC Standard Life at 4.2 times its embedded value as of September-end. The word on HDFC Standard Life’s issue is also the same as peers: long-term potential justifies rich valuation.

Source: Mint November 07, 2017 01:52 UTC