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    1. 1443442
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  • BSE SENSEX
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    2. -1000.56
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  • Last Update:09 Nov,2017
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    1. 1443442
    2. -965.56
    3. 1443 %
  • BSE SENSEX
    1. 1443442
    2. -1000.56
    3. 30000 %
  • BSE SENSEX
    1. 1443442
    2. -1000.56
    3. 30000 %
  • BSE SENSEX
    1. 1443442
    2. -1000.56
    3. 30000 %
  • BSE SENSEX
    1. 1443442
    2. -1000.56
    3. 30000 %
  • Last Update:09 Nov,2017
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HDFC Standard Life Insurance Company Ltd April 10, 2015 (12:00)

Issue Period
Nov 07, 2017 - Nov 09, 2017

Price Band
Rs.275 – Rs.290 per Equity Share

HDFC Standard Life Insurance Company Limited is first private life insurance company to register in India and were established as a joint venture between HDFC and Standard Life Aberdeen plc (one of the world’s largest investment companies), initially through its wholly owned subsidiary The Standard Life Assurance Company and now through its wholly owned subsidiary, Standard Life Mauritius.

HDFC Standard Life Insurance Company Limited

Issuer HDFC Standard Life Insurance Company Limited (View Report)
Issue Type 100% Book Built Issue IPO
Issue Period Issue Opens: Nov 07, 2017
Issue Closes: Nov 09, 2017
Price Brand Rs.275 – Rs.290 per Equity Share
Issue Size(Rs.) Up to 299,827,818 Equity Shares (Rs. 8245.26 Crs* -Rs. 8695.01 Crs^)
Face Value Rs.10 per Equity Share
Minimum Order Quantity Retail: 50 Shares and in multiples thereof
QIB 50% of the issue size (13,34,47,758Equity Shares) (Rs.3669.81* Cr – Rs.3869.98^ Cr)
NIB 15% of the issue size(4,00,34,328Equity Shares) (Rs.1100.94* Cr – Rs.1161.00^ Cr)
Retail Individual Bidders 35% of the issue size (9,34,13,431Equity Shares)(Rs.2568.87* Cr-2708.99^ Cr)
Employee Reservation: HDFC Employee Portion: 8,05,000 Equity Shares (Rs. 22.14 Cr* – Rs. 23.35 Cr^)
HDFC Life Employee Portion: 21,44,520 Equity Shares(Rs. 58.97 Cr* - Rs. 62.19 Cr^)
HDFC Shareholders Portion: 2,99,82,781 Equity Shares (Rs. 824.53 Cr* - Rs. 869.50 Cr^)
Registrar Karvy Computershare Private Limited
Listing NSE & BSE
Book Running Lead Managers Morgan Stanly, HDFC Bank, Credit Suisse, CLSA, Nomura, Edelweiss, Haitong, IDFC Bank, IIFL Holdings,UBS.

Karvy View

HDFC Standard Life Insurance (HSLI) is one of the most profitable life insurers in India with a broad and diversified product portfolio covering five principal segments across the individual and group categories. From FY15, the operating performance has strengthened with significant expansion in Value New Business (VNB). During FY15-17, company’s Annualized Premium Equivalent (APE) registered a CAGR of 14.5%.


Strong Financial performance: During FY15-17, the total premium registered a CAGR of 14.5% driven by CAGR of 12.6%, 43.6% and 7.3% in individual NBP, group NBP and renewal premiums respectively. In addition, HSLI improved its VNB margins from 18.5% in FY15 to 22.0% in FY17. Robust profitability and VNB margins have allowed the business to grow. The company has a healthy balance sheet with total net worth of Rs.44.6 bn and solvency ratio of 200.5% above the minimum requirement of 150%.


Valuation & Rating: At an IPO price band Rs 275-290, the IPO is priced at 61.9x P/E based on FY17 EPS. Factoring the parentage brand of ‘HDFC’, strong corporate governance, better than industry VNB margins along with high dividend payouts, we rate the IPO at 4 out of 5.

Key Strategies:

  • Reinforce agile, multi-channel distribution platform to fortify and diversify revenue mix across business cycles.
  • Drive innovation in product sales to enhance customer value proposition and to capture niche segments.
  • Invest in digital platforms to establish leadership in the growing digital space.
  • Continue to build economies of scale to ensure profitability and cost leadership.

  • News

    • +MARKET COMMENTARY
      1. Market drifts higher in early trade
      2. Market may open on a flat note
      3. Select shares in spotlight on MSCI index rejig
      4. Market tumbles on broad-based selling pressure
      5. Market drops sharply ahead of Q2 GDP data
    • +CORPORATE ANNOUNCEMENTS
      1. Market drifts higher in early trade
      2. Market may open on a flat note
      3. Select shares in spotlight on MSCI index rejig
      4. Market tumbles on broad-based selling pressure
      5. Market drops sharply ahead of Q2 GDP data
    • +OTHER NEWS
      1. Market drifts higher in early trade
      2. Market may open on a flat note
      3. Select shares in spotlight on MSCI index rejig
      4. Market tumbles on broad-based selling pressure
      5. Market drops sharply ahead of Q2 GDP data
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