The offer for sale from HDFC Standard Life Insurance Company Limited was subscribed 4.90 times. The company had tapped the capital markets with its offer for sale of 29,98,27,818 equity shares in a price band of Rs 275-290. It had earlier allotted 8,00,68,600 equity shares to 89 anchor investors comprising of 126 entities.

The public issue which was subscribed 4.90 times was on the back of excellent institutional support. QIB’s 16.60 times. HNI portion was subscribed 2.28 times and Retail portion was subscribed 0.94 times. There were 11.54 lakh applications in all.

The reservation for shareholders saw a poor response and was subscribed a mere 0.30 times. The reservation for employees was oversubscribed 1.24 times. In all the issue response was very clearly backed by institutions who have been with the company and the brand HDFC. Readers would rec all that the holding of institutions in both HDFC and HDFC Bank is largely institutional and that strength has seen this issue through.

Details of the subscription are given below: –