HDFC Life IPO Details

Issue Open Nov 7, 2017
Issue Close Nov 9, 2017
IPO Price ₹290
Face Value ₹10
IPO Size ₹8,695.01 Cr
Listing At BSE, NSE
IPO Lot Size 50

HDFC STANDARD LIFE INSURANCE COMPANY LIMITED

The Company was incorporated at Mumbai on August 14,2000 as 'HDFC Standard Life Insurance Company Limited' a public limited company under the Companies Ad, 1956.The Company obtained a certificate of commencement of business on October 12,2000 and the certificate of registration from the Insurance Regulatory and Development Authority of India ('IRDAI') to undertake life insurance business on October 23,2000.

Registered Office: 13th Floor, Lodha Excelus, Apollo Mills Compound,N.M.Joshi Marg,Mahalaxmi,Mumbai-400011. Corporate Office: 12th, 13th, and 14th Floor, Lodha Excelus, Apollo Mills Compound, N.M.Joshi Marg, Mahalaxmi,Mumbai-400011. For details of changes to the address of the registered office of the Company, please see 'History and Certain Corporate Matters' on page 261 of the Prospectus. Telephone: +91 (22) 6751 6666; Facsimile: +91 (22) 6751 6861; Contact Person: Narendra Gangan, Company Secretary and Compliance Officer; Email: investor.service@hdfclife.com; Website: www.hdfclife.com; Corporate Identity Number: U99999MH2000PLC128245; IRDAI Registration Number: 101

PROMOTERS OF THE COMPANY: HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED, STANDARD LIFE (MAURITIUS HOLDINGS) 2006 LIMITED AND STANDARD LIFE ABERDEEN PLC

Our Company has filed the prospectus dated November 10,2017 with the Registrar of Companies, Maharashtra (the 'Prospectus') and the Equity Shares are proposed to be listed on BSE Limited ('BSE') and National Stock Exchange of India Limited ('NSE') and the trading is expected to commence on November 17,2017.

BASIS OF ALLOTMENT

INITIAL PUBLIC OFFERING OF 299,827,818 EQUITY SHARES OF FACE VALUE OF RS 10 EACH ('EQUITY SHARES') OF HDFC STANDARD LIFE INSURANCE COMPANY LIMITED ('COMPANY' OR 'ISSUER') FOR CASH AT A PRICE OF RS 290 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 280 PER EQUITY SHARE, AGGREGATING TO RS 86,950 MILLION THROUGH AN OFFER FOR SALE OF 191,246,050 EQUITY SHARES BY HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED AND 108,581,768 EQUITY SHARES BY STANDARD LIFE (MAURITIUS HOLDINGS) 2006 LIMITED ('THE PROMOTER SELLING SHAREHOLDERS' AND SUCH OFFERING, 'THE OFFER'). THE OFFER COMPRISED A NET OFFER TO THE PUBLIC OF 266,895,517 EQUITY SHARES ('NET OFFER'), A RESERVATION OF 2,144,520 EQUITY SHARES (CONSTITUTING 0.11% OF THE POST OFFER PAID UP EQUITY SHARE CAPITAL) FOR PURCHASE BY THE ELIGIBLE HDFC LIFE EMPLOYEES AGGREGATING TO RS 621.91 MILLION ('HDFC LIFE EMPLOYEE RESERVATION PORTION'), RESERVATION OF 805,000 EQUITY SHARES (CONSTITUTING 0.04% OF THE POST OFFER PAID UP EQUITY SHARE CAPITAL) FOR PURCHASE BY THE ELIGIBLE HDFC EMPLOYEES AGGREGATING TO RS 233.45 MILLION ('HDFC EMPLOYEE RESERVATION PORTION') AND A RESERVATION OF 29,982,781 EQUITY SHARES (CONSTITUTING 1.49% OF THE POST-OFFER PAID UP EQUITY SHARE CAPITAL FOR PURCHASE BY ELIGIBLE HDFC SHAREHOLDERS AGGREGATING TO RS 8,695 MILLION ('HDFC SHAREHOLDERS RESERVATION PORTION'). THE OFFER CONSTITUTED 14.92% OF THE FULLY DILUTED POST-OFFER PAID-UP EQUITY SHARE CAPITAL OF THE COMPANY, I.E., ASSUMING EXERCISE OF ALL VESTED EMPLOYEE STOCK OPTIONS AND THE NET OFFER CONSTITUTED 13.28% OF THE FULLY DILUTED POST-OFFER PAID-UP EQUITY SHARE CAPITAL OF THE COMPANY, I.E..ASSUMING EXERCISE OF ALL VESTED EMPLOYEE STOCK OPTIONS.

OFFER PRICE: RS 290 PER EQUITY SHARE OF FACE VALUE OF RS 10 EACH
ANCHOR INVESTOR OFFER PRICE: RS 290 PER EQUITY SHARE
THE OFFER PRICE IS 29.0 TIMES THE FACE VALUE

Risks to Investors relating to pricing:

I. The ten merchant bankers associated with the Offer have handled 45 public issues in the past three years, out of which 12 issues closed below the issue price on listing date,
ii. The Price/Earnings ratio based on diluted EPS on restated consolidated basis for FY17 for the Issuer at the upper end of the Price band is as high as 65.91, as compared to the Industry average of 51.4.
iii. Average cost of acquisition of Equity Shares for the Promoter Selling Shareholders is much lower than Rs 290, the Offer price at the upper end of the Price Band for the public. The average cost of acquisition of Equity Shares for HDFC is Rs 10.71 per Equity Share while for Standard Life Mauritius it is Rs 41.79 per Equity Share.

OFFER PERIOD: OPENED ON : TUESDAY, NOVEMBER 7, 2017;
CLOSED ON : THURSDAY, NOVEMBER 9, 2017
ANCHOR INVESTOR BIDDING DATE WAS : MONDAY, NOVEMBER 6, 2017

Furthermore, in terms of Rule 19(2)(b)(iii) of the Securities Contracts Regulations Rules, 1957, as amended ('SCRR') read with Regulation 41 of the ICDR Regulations, this was an Offer for at least 10% of the post-Offer paid-up equity share capital of the Company, on a fully diluted basis. The Offer was made through the Book Building Process, in accordance with Regulation 26(1) of the ICDR Regulations, wherein not more than 50% of the Net Offerwas allocated on a proportionate basis to Qualified Institutional Buyers ('QIBs'). Provided that the Company and the Promoter Selling Shareholders, in consultation with the Managers, allocated up to 60% of the QIB Portion to Anchor Investors on a discretionary basis of which one-third was reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. 5% of the QIB Portion (excluding the Anchor Investor Portion) was available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion was available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not less than 15% of the Net Offer was available for allocation on a proportionate basis to Non-Institutional Investors and not less than 35% of the Net Offer was available for allocation to Retail Individual Investors, in accordance with the ICDR Regulations, subject to valid Bids being received at or above the Offer Price. Further, 2,144,520 Equity Shares were available for Allocation to Eligible HDFC Life Employees, 805,000 Equity Shares were available for Allocation to Eligible HDFC Employees, and 29,982,781 Equity Shares were available for Allocation to Eligible HDFC Shareholders, subject to valid Bids being received from them at or above the Offer Price. All Bidders, other than Anchor Investors, were required to mandatorily utilise the Application Supported by Blocked Amount ('ASBA') process providing details of their respective bank accounts which were blocked by the Self Certified Syndicate Banks ('SCSBs'), to participate in the Offer. Anchor Investors were not permitted to participate in the Offer through the ASBA process. For details, please see 'Offer Procedure' on page 712 of the Prospectus.
The Offer received 1,102,831 applications for 1,149,396,500 Equity Shares (prior to technical rejections) resulting in 3.83 times subscription. The details of the applications received in the Offer from various categories are as under: (beforetechnical rejections):

SI.
No.
Category No. of
Applications
No. of Equity
Shares applied
Amount
(Rs)
No. of times
Subscribed
Shares
Reserved as per
Prospectus
A Retail Individual Investors 1,067,105 84,692,000 24,575,313,712.00 0.91 93,413,431
B Non-Institutional Investors 1,590 89,440,750 25,937,107,550.00 2.23 40,034,328
C Qualified Institutional Bidders (excluding Buyers Investors) 222 881,952,550 255,764,468,000.00 16.52 53,379,158
D Anchor Investors 126 82,037,250 23,790,802,500.00 1.02 80,068,600
E HDFC Life Employees Reservation 4,127 1,613,400 467,768,500.00 0.75 2,144,520
F HDFC
Employees
Reservation
1,878 1,896,750 550,091,000.00 2.36 805,000
G HDFC
Shareholders
Reservation
27,783 7,763,800 2,252,452,650.00 0.26 29,982,781
Total 1,102,831 1,149,396,500 333,338,003,912.00 3.83 299,827,818

Final Demand
A summary of the final demand as at different Bid prices is as under:

SI No. Bid Price Bids Quantity (%) to Total Cumulative Total % Cumulative Total
1 275 1,078,050 0.10 1,078,050 0.10
2 276 44,600 0.00 1,122,650 0.10
3 277 26,700 0.00 1,149,350 0.11
4 278 18,600 0.00 1,167,950 0.11
5 279 15,550 0.00 1,183,500 0.11
6 280 477,500 0.04 1,661,000 0.15
7 281 14,250 0.00 1,675,250 0.16
8 282 35,650 0.00 1,710,900 0.16
9 283 29,550 0.00 1,740,450 0.16
10 284 8,750 0.00 1,749,200 0.16
11 285 343,150 0.03 2,092,350 0.19
12 286 10,100 0.00 2,102,450 0.19
13 287 18,000 0.00 2,120,450 0.20
14 288 57,550 0.01 2,178,000 0.20
15 289 61,550 0.01 2,239,550 0.21
16 290 989,935,550 91.73 992,175,100 91.94
17 CUTOFF 86,976,750 8.06 1,079,151,850 100.00
TOTAL 1,079,151,850 100.00

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being NSE on November15,2017.

A. Allotment to Retail Individual Investors (After Technical Rejections)
The Basis of Allotment to the Retail Individual Investors, who have bid at the Cut-Off Price or at the Offer Price of Rs 290 per Equity Share, was finalized in consultation with NSE. This category has been subscribed to the extent of 0.8169 times. The total number of Equity Shares Allotted in Retail Portion is 82,651,050 Equity Shares to 1,044,846 successful Retail Individual Investors. The under subscribed portion of 18,524,402 Equity Shares in the Retail Portion (including the spillover of 7,762,021 Equity Shares from HDFC Shareholder Reservation Portion) has been spilled over to QIBs and Non-Institutional Investors in the ratio of 50:15.
The cateaory-wise details of the Basis of Allotment are as under:

Category No. of
Applications
Received
% of
Total
Total No.
of Equity
Shares applied
% to
Total
No. of Equity
Shares Allotted
per applicant
Ratio Total No. of
Equity Shares
allotted
50 910,360 87.13 45,518,000 55.07 50 1:1 45,518,000
100 55,081 5.27 5,508,100 6.66 100 1:1 5,508,100
150 13,792 1.32 2,068,800 2.50 150 1:1 2,068,800
200 13,736 1.31 2,747,200 3.32 200 1:1 2,747,200
250 5,297 0.51 1,324,250 1.60 250 1:1 1,324,250
300 6,023 0.58 1,806,900 2.19 300 1:1 1,806,900
350 3,991 0.38 1,396,850 1.69 350 1:1 1,396,850
400 2,295 0.22 918,000 1.11 400 1:1 918,000
450 723 0.07 325,350 0.39 450 1:1 325,350
500 4,373 0.42 2,186,500 2.65 500 1:1 2,186,500
550 521 0.05 286,550 0.35 550 1:1 286,550
600 1,211 0.12 726,600 0.88 600 1:1 726,600
650 27,443 2.63 17,837,950 21.58 650 1:1 17,837,950
Total 1,044,846 100.00 82,651,050 100.00 82,651,050

B. Allotment to Non-Institutional Investors (AfterTechnical Rejections)
The Basis of Allotment to the Non-Institutional Investors, who have bid at the Offer Price of Rs 290 per Equity Share or above, was finalized in consultation with NSE. In this category 1,485 valid applications for 89,226,450 Equity Shares were received against 47,635,770 Equity Shares (Including spill over of 4,274,862 Equity Shares from Retail Portion and 3,326,580 Equity Shares from HDFC Shareholder Reservation Portion) reserved for this category resulting in subscription of 1.8731 times. The total number of Equity Shares Allotted in this category is 47,635,770 Equity Shares to 1,485 successful Non-Institutional Investors. The category-wise details of the Basis of Allotment are as under (sample):

Category No. of
Applications
Received
% of
Total
Total No.of
Equity Shares
applied
% to
Total
No. of Equity
Shares Allotted
per applicant
Ratio Total No. of
Equity Shares
allotted
700 247 16.63 172,900 0.19 374 1:1 92,378
750 56 3.77 42,000 0.05 400 1:1 22,400
75000 2 0.13 150,000 0.17 40041 1:1 80,082
77000 1 0.07 77,000 0.09 41108 1:1 41,108
80000 1 0.07 80,000 0.09 42710 1:1 42,710
86200 1 0.07 86,200 0.10 46020 1:1 46,020
99000 1 0.07 99,000 0.11 52854 1:1 52,854
100000 9 0.61 900,000 1.01 53387 1:1 480,483
103400 3 0.20 310,200 0.35 55203 1:1 165,609
103450 3 0.20 310,350 0.35 55229 1:1 165,687
105000 1 0.07 105,000 0.12 56057 1:1 56,057
112000 1 0.07 112,000 0.13 59794 1:1 59,794
117250 1 0.07 117,250 0.13 62597 1:1 62,597
122500 1 0.07 122,500 0.14 65400 1:1 65,400
125900 1 0.07 125,900 0.14 67215 1:1 67,215
137500 2 0.13 275,000 0.31 73408 1:1 146,816
150000 2 0.13 300,000 0.34 80081 1:1 160,162
155250 1 0.07 155,250 0.17 82884 1:1 82,884
172000 1 0.07 172,000 0.19 91826 1:1 91,826
172400 9 0.61 1,551,600 1.74 92040 1:1 828,360
175000 6 0.40 1,050,000 1.18 93428 1:1 560,568
200000 5 0.34 1,000,000 1.12 106775 1:1 533,875
207100 1 0.07 207,100 0.23 110566 1:1 110,566
220000 1 0.07 220,000 0.25 117452 1:1 117,452
241350 1 0.07 241,350 0.27 128851 1:1 128,851
250000 1 0.07 250,000 0.28 133469 1:1 133,469
275850 1 0.07 275,850 0.31 147269 1:1 147,269
284450 1 0.07 284,450 0.32 151861 1:1 151,861
301700 1 0.07 301,700 0.34 161070 1:1 161,070
344800 7 0.47 2,413,600 2.71 184080 1:1 1,288,560
400000 1 0.07 400,000 0.45 213550 1:1 213,550
413750 2 0.13 827,500 0.93 220891 1:1 441,782
500000 1 0.07 500,000 0.56 266937 1:1 266,937
517200 1 0.07 517,200 0.58 276120 1:1 276,120
600000 2 0.13 1,200,000 1.34 320325 1:1 640,650
603450 2 0.13 1,206,900 1.35 322167 1:1 644,334
620600 1 0.07 620,600 0.70 331323 1:1 331,323
689650 2 0.13 1,379,300 1.55 368187 1:1 736,374
690000 1 0.07 690,000 0.77 368374 1:1 368,374
700000 1 0.07 700,000 0.78 373712 1:1 373,712
731000 1 0.07 731,000 0.82 390263 1:1 390,263
860000 1 0.07 860,000 0.96 459132 1:1 459,132
862000 1 0.07 862,000 0.97 460200 1:1 460,200
862050 1 0.07 862,050 0.97 460227 1:1 460,227
1000000 1 0.07 1,000,000 1.12 533875 1:1 533,875
1034450 2 0.13 2,068,900 2.32 552267 1:1 1,104,534
1035000 1 0.07 1,035,000 1.16 552561 1:1 552,561
1206850 1 0.07 1,206,850 1.35 644307 1:1 644,307
1350000 1 0.07 1,350,000 1.51 720731 1:1 720,731
1379300 2 0.13 2,758,600 3.09 736374 1:1 1,472,748
1379350 1 0.07 1,379,350 1.55 736400 1:1 736,400
1724100 1 0.07 1,724,100 1.93 920454 1:1 920,454
2586200 1 0.07 2,586,200 2.90 1380707 1:1 1,380,707
2675650 1 0.07 2,675,650 3.00 1428463 1:1 1,428,463
3000000 1 0.07 3,000,000 3.36 1601625 1:1 1,601,625
3103400 1 0.07 3,103,400 3.48 1656828 1:1 1,656,828
3448250 1 0.07 3,448,250 3.86 1840934 1:1 1,840,934
3448300 1 0.07 3,448,300 3.86 1840961 1:1 1,840,961
4000000 1 0.07 4,000,000 4.48 2135483 1:1 2,135,483
4137900 1 0.07 4,137,900 4.64 2209103 1:1 2,209,103
4310300 2 0.13 8,620,600 9.66 2301152 1:1 4,602,304
5172450 1 0.07 5,172,450 5.80 2761420 1:1 2,761,420
6896550 1 0.07 6,896,550 7.73 3681865 1:1 3,681,865

C. Allotment to QIBs(excluding Anchor Investors) (After Technical Rejections)
Allotment to QIBs, who have Bid at the Offer Price of Rs 290 per Equity Share or above, has been done on a proportionate basis in consultation with NSE. This category has been subscribed to the extent of 11.2025 times of QIB Portion. As per the ICDR Regulations, Mutual Funds were Allotted 5% of the Equity Shares of QIB Portion available, i.e., 3,935,865 Equity Shares (including spill over of 712,477 Equity Shares from Retail Portion and 554,430 Equity Shares from HDFC Shareholder Reservation Portion) and other QIBs including Mutual Funds were Allotted the remaining available Equity Shares, i.e., 74,781,433 Equity Shares (including spill over of 13,537,063 Equity Shares from Retail Portion and 10,534,170 Equity Shares from HDFC Shareholder Reservation Portion) on a proportionate basis. The total number of Equity Shares Allotted in the QIB Portion is 78,717,298 Equity Shares, which were allotted to 221 successful QIB Bidders. The category-wise details of the Basis of Allotment are as under:

Category Fls/Banks Fll ICs MFs Others Total
QIB 5,443,716 46,291,285 2,921,366 20,693,344 3,367,587 78,717,298

D. Allotment to Anchor Investors
The Company and the Promoter Selling Shareholders, in consultation with the Managers, have allocated 80,068,600 Equity Shares to 89 Anchor Investors (through 126 Applications) at the Anchor Investor Offer Price of Rs 290 per Equity Share in accordance with the ICDR Regulations. This represents 60% of the QIB Portion.

Category AIF FPI ICs MFs FIs OTH Total
Anchor 3,620,700 45,068,750 1,551,750 27,413,600 2,413,800 - 80,068,600

E. Allotment under HDFC Life Employees Reservation Portion (AfterTechnical Rejections)
The Basis of Allotment to investors under the HDFC Life Employees Reservation Portion, who have bid at the Offer Price of Rs 290 per Equity Share, was finalized in consultation with NSE. This category has been subscribed to the extent of 0.7272 times. The total number of Equity Shares Allotted in this category is 1,559,400 Equity Shares to 3,863 successful bidders. The under subscribed portion of 585,120 Equity Shares in the HDFC Life Employees Reservation Portion has been spilled over to HDFC Employee Reservation Portion. The category-wise details of the Basis of Allotment are as under:

Category No. of
Applications
Received
% of
Total
Total No.of
Equity Shares
applied
% to
Total
No. of Equity
Shares Allotted
per applicant
Ratio Total No. of
Equity Shares
allotted
50 929 24.05 46,450 2.98 50 1:1 46,450
100 591 15.30 59,100 3.79 100 1:1 59,100
150 261 6.76 39,150 2.51 150 1:1 39,150
200 259 6.70 51,800 3.32 200 1:1 51,800
250 99 2.56 24,750 1.59 250 1:1 24,750
300 200 5.18 60,000 3.85 300 1:1 60,000
350 204 5.28 71,400 4.58 350 1:1 71,400
400 80 2.07 32,000 2.05 400 1:1 32,000
450 32 0.83 14,400 0.92 450 1:1 14,400
500 111 2.87 55,500 3.56 500 1:1 55,500
550 37 0.96 20,350 1.30 550 1:1 20,350
600 41 1.06 24,600 1.58 600 1:1 24,600
650 292 7.56 189,800 12.17 650 1:1 189,800
700 221 5.72 154,700 9.92 700 1:1 154,700
750 18 0.47 13,500 0.87 750 1:1 13,500
800 7 0.18 5,600 0.36 800 1:1 5,600
850 23 0.60 19,550 1.25 850 1:1 19,550
900 6 0.16 5,400 0.35 900 1:1 5,400
950 2 0.05 1,900 0.12 950 1:1 1,900
1000 69 1.79 69,000 4.42 1000 1:1 69,000
1050 21 0.54 22,050 1.41 1050 1:1 22,050
1100 10 0.26 11,000 0.71 1100 1:1 11,000
1150 4 0.10 4,600 0.29 1150 1:1 4,600
1200 15 0.39 18,000 1.15 1200 1:1 18,000
Category No. of
Applications
Received
% of
Total
Total No.of
Equity Shares
applied
% to
Total
No. of
Equity Shares
Allotted per applicant
Ratio Total No. of
Equity Shares
allotted
1250 6 0.16 7,500 0.48 1250 1:1 7,500
1300 6 0.16 7,800 0.50 1300 1:1 7,800
1350 12 0.31 16,200 1.04 1350 1:1 16,200
1400 17 0.44 23,800 1.53 1400 1:1 23,800
1450 2 0.05 2,900 0.19 1450 1:1 2,900
1500 9 0.23 13,500 0.87 1500 1:1 13,500
1550 3 0.08 4,650 0.30 1550 1:1 4,650
1600 6 0.16 9,600 0.62 1600 1:1 9,600
1650 3 0.08 4,950 0.32 1650 1:1 4,950
1700 267 6.91 453,900 29.11 1700 1:1 453,900
Total 3,863 100.00 1,559,400 100.00 1,559,400

F. Allotment under HDFC Employees Reservation Portion (AfterTechnical Rejections)
The Basis of Allotment to investors under the HDFC Employees Reservation Portion, who have bid at the Offer Price of Rs 290 per Equity Share, was finalized in consultation with NSE. This category has been subscribed to the extent of 1.0000 times. The total number of Equity Shares Allotted in this category is 1,885,400 Equity Shares (including spill over of 585,120 Equity Shares from HDFC Life Employee Reservation Portion and 495,280 Equity Shares from the HDFC Shareholders Reservation Portion) to 1,851 successful Bidders. The category-wise details of the Basis of Allotment are as under:

Category No. of
Applications
Received
% of
Total
Total No.of
Equity Shares
applied
% to
Total
No. of Equity
Shares Allotted
per applicant
Ratio Total No. of
Equity Shares
allotted
50 50 2.70 2,500 0.13 50 1:1 2,500
100 63 3.40 6,300 0.33 100 1:1 6,300
150 35 1.89 5,250 0.28 150 1:1 5,250
200 53 2.86 10,600 0.56 200 1:1 10,600
250 17 0.92 4,250 0.23 250 1:1 4,250
300 45 2.43 13,500 0.72 300 1:1 13,500
350 55 2.97 19,250 1.02 350 1:1 19,250
400 31 1.67 12,400 0.66 400 1:1 12,400
450 8 0.43 3,600 0.19 450 1:1 3,600
500 54 2.92 27,000 1.43 500 1:1 27,000
550 10 0.54 5,500 0.29 550 1:1 5,500
600 15 0.81 9,000 0.48 600 1:1 9,000
650 447 24.15 290,550 15.41 650 1:1 290,550
700 37 2.00 25,900 1.37 700 1:1 25,900
750 12 0.65 9,000 0.48 750 1:1 9,000
800 12 0.65 9,600 0.51 800 1:1 9,600
850 9 0.49 7,650 0.41 850 1:1 7,650
900 11 0.59 9,900 0.53 900 1:1 9,900
950 4 0.22 3,800 0.20 950 1:1 3,800
1000 61 3.30 61,000 3.24 1000 1:1 61,000
1050 19 1.03 19,950 1.06 1050 1:1 19,950
1100 11 0.59 12,100 0.64 1100 1:1 12,100
1150 6 0.32 6,900 0.37 1150 1:1 6,900
1200 11 0.59 13,200 0.70 1200 1:1 13,200
1250 8 0.43 10,000 0.53 1250 1:1 10,000
1300 10 0.54 13,000 0.69 1300 1:1 13,000
1350 12 0.65 16,200 0.86 1350 1:1 16,200
1400 11 0.59 15,400 0.82 1400 1:1 15,400
1450 4 0.22 5,800 0.31 1450 1:1 5,800
1500 14 0.76 21,000 1.11 1500 1:1 21,000
1550 8 0.43 12,400 0.66 1550 1:1 12,400
1600 4 0.22 6,400 0.34 1600 1:1 6,400
1650 6 0.32 9,900 0.53 1650 1:1 9,900
1700 698 37.71 1,186,600 62.94 1700 1:1 1,186,600
Total 1,851 100.00 1,885,400 100.00 1,885,400

G. Allotment under HDFC Shareholders Reservation Portion (AfterTechnical Rejections)
The Basis of Allotment to investors under the HDFC Shareholders Rsesrvation Portion, who have bid at the Offer Price of Rs 290 per Equity Share, was finalized in consultation with NSE. This category has been subscribed to the extent of 0.2438 times. The total number of Equity Shares Allotted in this category is 7,310,300 Equity Shares to 25,021 successful Bidders. The unsubscribed portion of 495,280 Equity Shares spilled over to HDFC Employee Reservation Portion to the extent that the HDFC Employees Reservation Portion was subscribed and balance 22,177,201 Equity Shares spilled over to QIBs, Non-Institutional Investors and Retail Individual Investors Portion in the ratio of 50:15:35. The category-wise details of the Basis of Allotment are as under:

Category No. of
Applications
Received
% of
Total
Total No.of
Equity Shares
applied
% to
Total
No. of Equity
Shares Allotted
per applicant
Ratio Total No. of
Equity Shares
allotted
50 7,375 29.48 368,750 5.04 50 1:1 368,750
100 4,047 16.17 404,700 5.54 100 1:1 404,700
150 1,138 4.55 170,700 2.34 150 1:1 170,700
200 1,667 6.66 333,400 4.56 200 1:1 333,400
250 564 2.25 141,000 1.93 250 1:1 141,000
300 953 3.81 285,900 3.91 300 1:1 285,900
350 522 2.09 182,700 2.50 350 1:1 182,700
400 425 1.70 170,000 2.33 400 1:1 170,000
450 127 0.51 57,150 0.78 450 1:1 57,150
500 726 2.90 363,000 4.97 500 1:1 363,000
550 93 0.37 51,150 0.70 550 1:1 51,150
600 355 1.42 213,000 2.91 600 1:1 213,000
650 7,029 28.09 4,568,850 62.50 650 1:1 4,568,850
Total 25,021 100.00 7,310,300 100.00 7,310,300

The Executive Committee of our Company on November 15, 2017 has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being NSE and has allotted the Equity Shares to various successful Bidders. The Allotment Advice cum Refund Intimations and/ or notices will be dispatched to the address of the investors as registered with the depositories. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. Further, the instructions to the Self Certified Syndicate Banks for unblocking of funds, transfer to Public Offer Account have been issued on November 15,2017 and payment to non-Syndicate brokers have been issued on November 15,2017. The Equity Shares Allotted to the successful Allottees have been uploaded on November 15,2017 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has filed the Listing application with NSE and BSE on November 15,2017 and the trading is expected to commence on November 17,2017.
All capitalised terms used and not specifically defined herein shall have the same meaning as ascribed to them in the Prospectus.

INVESTORS PLEASE NOTE
The details of the allotment made will be hosted on the website of the Registrar to the Offer, Karvy Computershare Private Limited at https://karisma.karvy.com/

All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the first/ sole Bidder, Bid cum Application Form number, Bidder DP ID, Client ID, PAN, date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares applied for, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder and a copy of the Acknowledgment Slip received from the Designated Intermediary at the address given below:

Karvy Computershare Private Limited
Karvy Selenium Tower B, Plot 31-32, Gachibowli,
Financial District, Nanakramguda, Hyderabad - 500 032, Andhra Pradesh, India
Telephone: +91 (40) 6716 2222; Facsimile: +91 (40) 23431551;
Email: einward.ris@karvy.com; Website: https://karisma.karvy.com/
Investor Grievance ID: hdfclife.ipo@karvy.com
Contact Person: Mr. M. Murali Krishna; SEBI Registration No.: INR000000221

Place : Mumbai
Date  : November 16,2017

For HDFC STANDARD LIFE INSURANCE COMPANY LIMITED
On behalf of the Board of Directors
Sd/-
Company Secretary and Compliance Officer

HDFC Life IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in HDFC Life IPO?

    Check the basis of allotment document above to know about how the shares are allocated in HDFC Life IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).
  2. 2. What is HDFC Life IPO basis of allotment status?

    The HDFC Life IPO basis of allotment (published above) tells you how shares are allocated to you in HDFC Life IPO and category wise demand of IPO share.

    Visit the HDFC Life IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is HDFC Life IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in HDFC Life IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).








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