HDFC Life IPO
HDFC Life IPO — date, price band, lot size & details 2017
HDFC Life listed on 17 Nov 2017 at ₹310, 6.9% above the ₹290 issue price.
HDFC Standard Life Insurance (HDFC Life) is a Mumbai based life insurer and a joint venture of HDFC and Standard Life Aberdeen, offering protection, pension, savings and health plans. Its profit after tax was Rs 892.13 crore in FY2017.
Stock price
HDFC Life is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 07 Nov 2017
- Close 09 Nov 2017
- Allotment 14 Nov 2017
- Refund/credit 15 Nov 2017
- Listing 17 Nov 2017
Issue summary
The terms of the offer, as filed.
| IPO Dates | 7 to 9 Nov, 2017 |
|---|---|
| Price Band | ₹275 – ₹290 |
| Face Value | ₹10 |
| Lot Size | 50 Shares |
| Issue Size | ₹8695.01 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,500 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 50 shares at the ₹290 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 50 | ₹14,500 |
| Retail (max) | 13 | 650 | ₹1,88,500 |
| S-HNI (min) | 14 | 700 | ₹2,03,000 |
| S-HNI (max) | 68 | 3,400 | ₹9,86,000 |
| B-HNI (min) | 69 | 3,450 | ₹10,00,500 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Profit after tax rose from Rs 785.51 crore in FY2015 to Rs 892.13 crore in FY2017, and was Rs 554.85 crore in six months to September 2017.
- 02Net worth rose from Rs 2,541.85 crore in FY2015 to Rs 4,476.09 crore on 30 September 2017.
- 03It offers a wide range of protection, pension and savings plans, backed by HDFC and Standard Life Aberdeen; net worth rose from Rs 3,108.60 crore in FY2016.
- 04Its promoters held 81.04% after the issue, giving strong parentage.
Risks · 5
- 01Insurance rules on charges and commissions are set by IRDAI and can change; profit grew slowly from Rs 818.40 crore in FY2016.
- 02Savings linked policies sell less when markets are weak; net worth was Rs 3,838.69 crore in FY2017.
- 03Its sales depend on distribution partners, which can change terms; shareholder assets were Rs 2,339.24 crore.
- 04The whole Rs 8,695.01 crore issue was an offer for sale, so none of it went to the company.
- 05The promoters held 95.97% before the issue and 81.04% after it.
Three years of numbers
All figures in ₹ crore, as reported in the HDFC Life offer document.
| Metric | 30 Sep 2017 | 31 Mar 2017 | 31 Mar 2016 | 31 Mar 2015 |
|---|---|---|---|---|
| Assets | 2,339.24 | 2,967.77 | 1,879.22 | 1,805.95 |
| Total Income | 589.97 | 1,013.20 | 897.63 | 871.78 |
| Profit After Tax | 554.85 | 892.13 | 818.40 | 785.51 |
| NET Worth | 4,476.09 | 3,838.69 | 3,108.60 | 2,541.85 |
| Reserves and Surplus | 2,420.46 | 1,807.90 | 1,154.55 | 548.98 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the HDFC Life IPO will be updated shortly.
About the company
It offers individual and group insurance solutions including protection, pension, savings and investment, and health plans, along with plans for children and women.
It is a joint venture between HDFC, a leading financial services group, and Standard Life Aberdeen plc.
The IPO was Rs 8,695.01 crore and was entirely an offer for sale at Rs 290, the top of the Rs 275 to Rs 290 band, so the company received no money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
HDFC Life IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
IIFL Capital Services Limited
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HDFC Bank Limited
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Ubs Securities India Private Limited
22 issues handledBest listing: BGR Energy Systems (+75.0%). Weakest: Bharti Infratel (-9.1%).
Morgan Stanley India Co. Pvt. Ltd
36 issues handledBest listing: Nykaa (+79.4%). Weakest: KSK Energy Ventures (-12.5%).
Nomura Financial Advisory & Securities (India) Pvt. Ltd
37 issues handledBest listing: Happiest Minds Technologies (+110.8%). Weakest: Shriram Properties (-23.7%).
CLSA India Pvt. Ltd
18 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: ICICI Securities (-16.3%).
IDFC Bank Ltd
10 issues handledBest listing: Dixon Technologies (India) (+54.3%). Weakest: New India Assurance (-6.3%).
Credit Suisse Securities (India) Pvt. Ltd
20 issues handledBest listing: Zomato (+52.6%). Weakest: Sterling & Wilson Solar (-9.5%).
Edelweiss Financial Services Ltd
73 issues handledBest listing: Route Mobile (+104.9%). Weakest: ICICI Securities (-16.3%).
Haitong Securities India Pvt. Ltd
3 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Gland Pharma (+14.0%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of HDFC Life?
The current Grey Market Premium is ₹7.5, or 3% over the issue price.
What is the HDFC Life IPO price band?
₹275 to ₹290, on a face value of ₹10.
When is the allotment?
The basis of allotment is 14 November 2017, with listing on 17 November 2017.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
