India's HDFC Life sets price range for $1.34 billion IPOStaff Writer | October 27, 2017
HDFC Standard Life Insurance's initial public offering could raise as much as 86.95 billion rupees ($1.34 billion) after the Indian insurer set a 275-290 rupees per share price range for the IPO.
Public offer Companies have raised about $8 billion from IPOs in India
However, concerns over high valuations have meant lacklustre debuts for insurance companies that have listed.
HDFC Life's two main shareholders - Housing Development Finance Corp and Standard Life - are selling a combined 299.8 million shares in the IPO, which will be open for subscriptions from November 7 to November 9. ■