HDFC Standard Life Insurance going for IPO with the Rs 8695 crore initial public offering (IPO).Private life insurer HDFC Standard Life Insurance will open on November 7 and close on November 9. Estimated that at the upper end of the price brand, the insurer has been valued at Rs 58260 crore initially.

During the press meet it was found that the price band for the offer is fixed from Rs 275 per equity share to Rs 290 per equity share. After ICICI Prudential Life Insurance and SBI Life Insurance being listed on the stock markets HDFC standard life is the third to open their IPO.

It consists of an initial public offering up to 299,827,818 equity shares of face value of Rs.10 each (“equity shares”) which comprises an offer for sale of 191,246,050 equity shares by Housing Development Finance Corporation and up to 108,581,768 equity shares by Standard Life (Mauritius Holdings) 2006 Limited.

Photo & Report By Rajib Mukherjee