HDFC Standard Life lists with over 7% premium; IPO oversubscribed, m-cap now at Rs 69,671.19 crore
At NSE, HDFC Standard Life listed at Rs 310, reflecting a gain of 6.89 percent.
New Delhi: Stock of HDFC Standard Life Insurance Company listed on Friday with an over 7 percent premium against its issue price of Rs 290. The stock debuted at Rs 311, up 7.24 percent from the issue price on the BSE. It later soared 27.24 percent to Rs 369.
At the NSE, it listed at Rs 310, reflecting a gain of 6.89 percent. The company's market valuation stood at Rs 69,671.19 crore.
The Rs 8,695-crore IPO of the company was oversubscribed 4.90 times during 7-9 November.
The qualified institutional buyers (QIBs) portion was oversubscribed 16.60 times, non-institutional investors 2.29 times and retail investors 94 percent, data available with the NSE showed.
Price band for the offer was fixed at Rs 275-290 per share.
BSE Sensex closed at 52,904.05 with a gain of 134.32 points or 0.25 percent. The top gainers were Tech Mahindra, HCL Technologies, Infosys, Larsen and Toubro and Tata Steel
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The IPO size was reduced to Rs 5,178.49 crore after the company raised Rs 4,196.51 crore on 13 July from 186 anchor investors