HDFC Standard Life Insurance Co Ltd
HDFC Standard Life Insurance IPO to open Nov 7: Here are 10 things to know
HDFC and Standard Life Mauritius are two promoters of the company, which respectively hold 61.21 percent and 34.75 percent of equity shares as of October 25, 2017.
HDFC Standard Life Insurance Company, the part of housing finance major HDFC, will open its Rs 8,695-crore initial public offering for subscription on November 7, with a price band of Rs 275-290 per share.
It would be the third life insurance company getting listed on bourses; and is the first initial public offering by a company promoted by HDFC, since the initial public offering of HDFC Bank in 1995.
The global co-ordinators and book running lead managers are Morgan Stanley India Company, HDFC Bank, Credit Suisse Securities (India), CLSA India and Nomura Financial Advisory and Securities (India). The book running lead managers are Edelweiss Financial Services, Haitong Securities India, IDFC Bank, IIFL Holdings and UBS Securities India.
Here are 10 things one should know before investing in IPO:-
Company Profile
HDFC Standard Life Insurance Company was established in 2000 as a joint venture between HDFC and Standard Life Aberdeen plc, initially through its wholly owned subsidiary The Standard Life Assurance Company and now through its wholly owned subsidiary, Standard Life Mauritius.
It is one of the most profitable life insurers, based on value of new business (VNB) margin, among the top five private life insurers in India (measured on total new business premium) in FY16 and FY17, according to CRISIL.
It has also consistently been among the top three private life insurers in terms of market share based on total new business premium between FY15 and FY17, according to CRISIL.
The company’s bancassurance partners include banks, non-banking financial companies, micro-finance institutions and small finance banks in India. The number of major bancassurance partners grew from 31 as of March 2015 to 125 as of September 2017.
Bancassurance remained its most significant distribution channel, generating 54.1 percent of total new business premiums for six months ended September 2017.The company has a broad, diversified product portfolio covering five principal segments across the individual and group categories, namely participating, non-participating protection term, non-participating protection health, other non-participating and unit-linked insurance products.
In FY12, it established a wholly-owned subsidiary, HDFC Pension, to operate its pension fund business under the National Pension System (NPS). And in FY16, the company established its first international wholly-owned subsidiary in the UAE, HDFC International, to operate its reinsurance business.
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