HDFC Life OFS subscribed 1.07 times on Day 2

NEW DELHI: The retail quota of HDFC Life Insurance Company offer for sale (OFS) got subscribed 1.07 times on Wednesday.

This is after the OFS observed strong response from non-retail investors the previous day.

The issue received retail bids for 1.06 crore shares against the retail quota of 99.5 lakh shares, data available with NSE suggested.


The issue received institutional bids for 16.4 crore shares against the non-retail quota of 8.95 crore shares and was subscribed 1.83 times of the total issue on Day 1.

A total of 90 per cent of the offer size was reserved for institutional investors. The rest is for retail investors, who are participating in the issue today.

The life insurance company offered up to 7,00,00,000 equity shares with an option to sell an additional 2,95,00,000 equity shares.

The floor price for the offer is set at Rs 357.5.

Standard Life, the joint venture partner in HDFC Life Insurance, is looking to sell nearly 5 per cent stake in HDFC Life Insurance Company to meet public shareholding norm.