HDFC Standard Life Insurance Company (HDFC Standard Life) has consistently ranked among India’s top three private life insurers in terms of market share, based on total business premium between FY2015 and FY2017. HDFC Standard Life was incorporated in 2000, and is registered with the Insurance Regulatory & Development Authority (IRDAI) as a life insurer, pursuant to the registration certificate dated October 23, 2000. The company’s promoters are Housing Development Finance Corporation Limited (HDFC), Standard Life (Mauritius Holdings), 2006 Limited (Standard Life Mauritius) and Standard Life Aberdeen Plc (Standard Life Aberdeen).
on September 30, 2017, the company has 32 individual products, 10 group products and 8 optional rider benefits. The company has a healthy balance sheet with a total networth of Rs. 4,460 crore and a solvency ratio of 200.5%, which is above the minimum 150% solvency ratio required under IRDAI regulations. The company generated a profit after tax of Rs. 886.92 crore and delivered a return on equity of 25.6%, return on invested capital of 40.7% and operating return on embedded value (EV) of 21.7% in FY2017. As on September 30, 2017, they had total assets under management (AUM) of Rs. 99,530 crore and an Indian embedded value of Rs. 14,010 crore.
Gross revenue from operations stood at Rs. 178.5 crore, Rs. 621.73 crore, Rs. 535 crore and Rs. 461.8 crore, for the quarter ended June 30, 2017, FY2017, FY2016 and FY2015, respectively, in terms of restated financial statements.
- Rs. 8,245-8,695 crore
- 50 equity shares and in multiples thereafter
- QIB - 50% NIB - 15% Retail - 35%
- Rs. 10
- 21,44,520 equity shares for
HDFC Life eligible employees 8,05,000 equity shares for HDFC Ltd eligible employees
2,99,82,781 equity shares for HDFC Ltd shareholders
- ASBA mandatory (No cheques will be accepted)
- Morgan Stanley India Company Pvt. Ltd., HDFC Bank Ltd., Credit Suisse Securities (India)
Pvt. Ltd., CLSA India Pvt. Ltd., Nomura Financial Advisory and Securities (India) Pvt. Ltd. - Edelweiss Financial Services Ltd. Haitong Securities India Pvt Ltd.,
IDFC Bank Ltd., IIFL Holdings Ltd. and UBS Securities India Pvt Ltd. - Proposed to be listed on BSE and NSE
- Karvy Computershare Pvt Ltd
Note:Please note that as per the new SEBI regulations, all initial public offerings (IPOs) after January 1, 2016 need to be subscribed to through the application supported block amount (ASBA) route only. These changes have altered the existing seamless online bidding process. We are striving to make this process completely online for you again. We seek your kind support in the interim.
- Trusted brand and strong parentage enhancing consumer appeal
- Consistent and profitable growth enabling a strong financial performance
- An expanding and profitable multi-channel distribution footprint
providing market access across various consumer segments in India - Focus on customer allows growth across business cycles
- Leading digital platform providing a superior experience for customers and distributors
- Independent and experienced leadership team
The offer aims to achieve the benefits of listing the equity shares on the stock exchanges and to carry out the sale of offered shares by the promoter selling shareholders.
The listing is expected to enhance the 'HDFC Life' brand name and provide liquidity to the existing shareholders. The company will not receive any proceeds from the offer.
An initial public offering (IPO)/public issue is when an unlisted company makes either a fresh issue of securities or an offer for sale of its existing securities or both for the first time to the public. This paves the way for listing and trading of the issuer’s securities.
The shares are initially issued in the primary market at an offering price determined by the lead manager(s)/the merchant banker(s) to the IPO.
The primary market consists of a syndicate of investment banks and broker dealers that the lead managers assemble and that allocate shares to institutional, high net worth individuals (HNI) and individual/retail investors.
As far as IPOs are concerned, a price band is a value-setting method whereby a seller indicates an upper and lower cost range, between which the buyers/investors are able to place their bids. The price band's floor and cap provide guidance to the buyers.
It is up to the company to decide on the IPO price or the price band, in consultation with the lead managers.
The basis of IPO price is disclosed in the offer document. The issuer is required to disclose in detail about the qualitative and quantitative factors justifying the IPO price.
The IPO price is normally based on such factors as the company’s financials, products and services, income stream as well as the demand for the shares and current market conditions.
The lead managers must determine a fair offering price, which takes into consideration the need for the company to raise capital while offering the new issue at a price which represents a fair value of the shares.
A Red Herring Prospectus (RHP) is a document submitted by a company (issuer) as part of a public offering or an IPO of securities (either stocks or bonds).
A retail individual investor means an investor who applies or bids for securities of or for a value of not more than Rs 2,00,000.
Yes. He can bid in a book-built IPO for a value not more than Rs 2,00,000. Any bid made in excess of this will be considered in the HNI category.
Yes. Investors can change or revise the quantity or price in the bid using the form for changing/revising the bid that is available along with the application form. However, the entire process of changing or revising the bids shall be completed before the IPO closes.
In case of fixed price issues, investors are intimated about the CAN/Refund order within 10 days of the closure of the IPO.
In case of book built IPOs, the basis of allotment is finalised by the book-running lead managers within two weeks from the closure of the issue. The registrar then ensures that the demat credit or refund as applicable is completed within 6 working days of the closure of the issue.
In the case of book-built issues, the exchanges (Bombay Stock Exchange/National Stock Exchange) display the data regarding the bids obtained (on a consolidated basis between both these exchanges).
The data regarding the bids is also available category-wise.
Investors are entitled to receive a Confirmatory Allotment Note (CAN) in case they have been allotted shares within 6 working days from the closure of a book Built issue. The registrar has to ensure that the demat credit or refund as applicable is completed within 6 working days of the closure of the book-built issue.
The lead managers also publish an advertisement at least in an English national daily with wide circulation, one Hindi national paper and a regional language daily circulated at the place where registered office of the issuer company is situated.
The listing on the stock exchanges is done within seven days from the finalisation of the issue.
Ideally, it would be around three weeks after the closure of the book-built issue.
In case of fixed price issue, it would be around 10 days after closure of the issue.