Standard Life (Mauritius Holding) initiate to sale 1.78% (36,000,000 Equity Shares) stake in HDFC Life Insurance.
Notice of offer for Sale of shares by Promoters & Floor price: Standard Life (Mauritius Holdings) 2006 Limited has submitted to BSE a copy of Notice of the proposed offer for sale up to 36,000,000 Equity Shares (representing 1.78% of the total issued and paid-up Equity Share capital of HDFC Life Insurance Company Ltd (formerly known as HDFC Standard Life Insurance Company Limited) on May 3, 2019 (“T-Day”) (for non-retail investors).
On May 6 2019, (“T+1 Day”) (for retail investors and for non-retail investors who choose to carry forward their un-allotted bids), through a separate, designated window of BSE Limited and National Stock Exchange of India Limited.
Floor Price: Rs. 390/- per equity share of the company
Offer Size: Rs.1,404 crore
Retail Reservation: 10% of the sale shares
Retail Discount: No Discount
Number of equity shares being offered: 36,000,000 Equity Shares representing 1.78% of the total issued and paid-up Equity Share capital of the Company
Date and time of the opening and closing of the offer:
- For Non-Retail Investors: On 3rd May 2019 ( From 9:15 A.M to 3:30 P.M )
- For Retail Investors: On 6th May 2019 ( From 9:15 A.M to 3:30 P.M )
Selling Member: DSP Merrill Lynch Limited
Financial Performance Highlights for the year ending March 31, 2019:
In Q4, the company has posted solid PAT growth of 15% to Rs 1,277 Cr., stellar operating return on EV of 20.1%. Current, AUM of the company is more than Rs. 1,25,000 Cr; the Debt:Equity ratio as on March 31, 2019 is 62:38. Over 96% of debt investments are in AAA rated and Government bonds as on March 31, 2019. However, overall new business margins improve from 23.2% in FY18 to 24.6% in FY19.