Live Markets »News & Advice»Market News»Market News Details
Market News Details
Back

HDFC Life OFS retail investor portion garners 84% subscription

BS Reporter/ 14 Mar 19 | 01:03 AM

The retail investor portion of HDFC Life Insurance Company’s offer for sale (OFS) garnered 84 per cent subscription. Retail investors bid for 8.4 million shares as against 10 million on offer, data from the exchanges showed. A day earlier, the institutional investor portion of the OFS was subscribed more than two times.

ALSO READ: HDFC's loan exposure to wholesale, developer segments may impact its stock

Related Stories

    No Related Stories Found
Widgets Magazine

The unsubscr­ib­ed shares in the retail segme­nt will be allotted to institution­al investors. Through the OFS, UK’s Standard Life has divested its 4.93 per cent stake to raise about Rs 3,600 crore. Bank of America Merrill Lynch was the investment banker for share sale.

 After the sale, Standard Life’s shareholding is 24.27 per cent. Shares of HDFC Life fell 1.43 per cent to end at Rs 366 on Wednesday.     

Widgets Magazine

Sensex

Company Price Gain (%)
NTPC134.053.67
Larsen & Toubro1,394.001.54
Asian Paints1,470.701.08
Tata Steel518.150.90
Bajaj Auto2,949.400.60

Poll

Currently No Poll Available.

Online Portfolio

You can create Online Portfolio here using the below button.

Widgets Magazine