Incorporated in 2000, HDFC Standard Life Insurance Company Ltd (HDFC Life) is Mumbai based life insurance provider in India. HDFC Life offers a wide range of individual and group insurance solutions including Protection, Pension, Savings & Investment and Health, along with Children's and Women's Plan.
HDFC Life is a joint venture between HDFC and Standard Life Aberdeen plc. HDFC is a leading financial service provider in India offering finance for housing, banking, life and general insurance, asset management, venture capital and education loans. Standard Life is an Edinburgh based investment company offering wide range of financial services across the globe. Standard Life is a public company established in 1825.
HDFC Life sells policies through a multi channel network. This includes direct sales through own branches, Insurance agents, Partner Banks and through other financial institutions. HDFC Life has over 414 branches and 15,406 full-time employees located across India. Company has over 58,147 individual agents.
The Promoters of the Company are:
1. Housing Development Finance Corporation Limited ("HDFC");
2. Standard Life (Mauritius Holdings) 2006 Limited ("Standard Life Mauritius"); and
3. Standard Life Aberdeen plc ("Standard Life Aberdeen").
The objects of the issue are:
1. To achieve the benefits of listing the Equity Shares on the Stock Exchanges and
2. To carry out the sale of Offered Shares by the Selling Shareholders.
»» Issue Open: Nov 7, 2017 - Nov 9, 2017
»» Issue Type: Book Built Issue IPO
»» Issue Size: 299,827,818 Equity Shares of Rs 10 aggregating up to Rs 8,695.01 Cr
› Offer for Sale of 299,827,818 Equity Shares of Rs 10 aggregating up to Rs [.] Cr
»» Face Value: Rs 10 Per Equity Share
»» Issue Price: Rs 275 - Rs 290 Per Equity Share
»» Market Lot: 50 Shares
»» Minimum Order Quantity: 50 Shares
»» Listing At: BSE, NSE
|Particulars||ICICI Prudentials||SBI Life Insurance||HDFC Std Life|
|JV Partner||Prudential Life||BNP Paribas||Standard Life|
|Price band||Rs. 300-334||Rs. 685-700||Rs. 275-290|
|Shares allotted at||Rs. 334||Rs. 700||NA|
|Issue Size (Rs. Crore||Rs. 6057 crore||Rs. 8400 crore||Rs. 8245-8695|
|Minimum application lot||44 shares||21 shares||50 shares|
|P/E at the time of IPO||29||55||65|
|P/BV at the time of IPO||9||11.9||15|
|RoE (FY15-17 average)||31.20%||20.10%||29.40%|
|AUM (FY17) Rs. Bn.||Rs. 1229.0||Rs. 977.0||Rs. 917.0|
|Solvency ratio (FY17)||281.00%||204%||192%|
|Claim Settlement Ratio (FY17)||97.20%||98.00%||99.20%|
|Issue constituted dilution of||19.10%||16%||14.90%|
|Post issue promoter's holding||81%||84%||81.04%|
|Issue subscribed by||10.48 times||3.55 times||NA|
|Opened @ on listing day||Rs. 329.00||Rs. 733.30||NA|
|High of Listing day||Rs. 333.90||Rs. 738.00||NA|
|Low of Listing day||Rs. 295.50||Rs. 702.25||NA|
|Close on listing day||Rs. 297.65||Rs. 708.00||NA|
|Mkt Share (FY17)||15.50%||20%||17.20%|
|Total No. of Products||28||39||40|
|EV (FY17) Rs. Bn.||Rs. 161.8||Rs. 165.4||Rs. 123.90|
|Dividend pay out ratio||39.50%||18.90%||29.60%|
|Surrender Ratio (v/s total premium) (FY17)||52.76%||22.79%||31.33%|
|Market share (Industry level) FY17||12%||11.20%||6.80%|
|Market share (Private Sector) FY17||22.30%||20.70%||12.70%|
HDFC Life IPO Subscription Status tells if HDFC Life IPO subscribed or not. Investors can bid for IPO shares between 10 AM to 5 PM when public issue is open. HDFC Life IPO oversubscribed if bids are received for more shares than what is offered by the company.
|Number of Times Subscribed (BSE + NSE)|
|As on Date & Time||QIB||NII||RII||Employee||Others||Total|
|Shares Offered / Reserved||53,379,158||40,034,328||93,413,431||2,949,520||29,982,781||219,759,218|
|Day 1 - Nov 7, 2017 17:00 IST||1.4000||0.2200||0.1400||0.4400||0.0700||0.4600|
|Day 2 - Nov 8, 2017 17:00 IST||3.6900||0.5000||0.3600||0.7700||0.1500||1.1700|
|Day 3 - Nov 9, 2017 19:00 IST||16.5975||2.2852||0.9084||1.2222||0.2919||4.8925|
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