HDFC Standard Life IPO – Schedule (Pg #698 of RHP)
31st Oct – Price Band to be Announced
06th Nov – Anchor List
07th Nov – Offer Opens
09th Nov – Offer Closes
14th Nov – Finalisation of Basis of Allotment
15th Nov – Unblocking of ASBA
16th Nov – Credit to Demat Accounts
17th Nov – Listing on NSE & BSE
HDFC Standard Life IPO – Issue Information *(FINAL)*
Issue Opens on: 07 November 2017
Issue Closes on: 09 November 2017
Issue Type: Book Built Issue IPO
Issue Size: 29,98,27,818 Equity Shares
Face Value: Rs 10 per Equity Share
Issue Price: Rs.275 – Rs.290 per Equity Share
Market Lot: 50 shares
Listing At: NSE, BSE
Equity Shares outstanding prior to the Issue = 2,00,89,73,222 Equity Shares
Offer for Sale of 29,98,27,818 Equity Shares @upper price band = Rs.8695.01Crores
Equity Shares outstanding after the Issue = 2,00,89,73,222 Equity Shares
Category-wise Break up:.
Anchor – 8,00,68,654 Shares = 2321.99Crs
QIB – 5,33,79,104 Shares = 1547.99Crs
NII – 4,00,34,328 Shares = 1161.00Crs
RII – 9,34,13,431 Shares = 2708.99Crs (Lot size: 50 = 18,68,269 Forms)
HDFC Shareholders – 2,99,82,781 Shares = 869.50Crs
HDFC Life Empl. – 21,44,520 Shares = 62.19Crs
HDFC Empl. – 8,05,000 Shares = 23.35Crs
Total Issue – 29,98,27,818 Equity Shares = 8695.01Crs.
Subscription required for 1X
RII = 18,68,269 Forms
NII = 1161.00Crs
Interest cost @5%p.a. for 7days = 27.808paise for 1X
HDFC Standard Life IPO – Financial Information (Basis of Valuation)
EPS for FY14-15 >>> Rs.3.9 (Page #153 of RHP)
EPS for FY15-16 >>> Rs.4.1 (Page #153 of RHP)
EPS for FY16-17 >>> Rs.4.4 (Page #153 of RHP)
EPS for H117-18 >>> Rs.2.8 (Page #153 of RHP)
RoNW for FY14-15 >>> 35.2% (Page #154 of RHP)
RoNW for FY15-16 >>> 28.9% (Page #154 of RHP)
RoNW for FY16-17 >>> 25.6% (Page #154 of RHP)
NAV as on March 31, 2017 was Rs.19.1 (Page #155 of RHP)
Peer Group (Page #155 of DRHP): ICICI Prudential Insurance, SBI Life Insurance Company
HDFC Standard Life IPO
Market Estimates of oversubscription:
Category-wise:
1X QIB = 1,547.99Crs – assuming applications of 8KCrs. = 9X oversubscription
1X NII = 1000.86Crs – assuming applications of 60KCrs. = 52X oversubscription
1X RII = 18,68,269 Forms – assuming 22L forms. = 1.2X oversubscription (applic-wise)
i.e. average 42.45 shares per form
HDFC Standard Life IPO
GMP 20 – 21
Kostak 825 – 850