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Nov 09, 2017 05:16 PM IST | Source: Moneycontrol.com

IPO Update: HDFC Standard Life’s issue oversubscribed 2.46 times on Day 3 so far

The issue received bids for 1,06,68,34,400 shares against the total size of 21,97,59,218 shares, as per NSE data.

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HDFC Standard Life’s initial public offering on Thursday, the last day of its issue, was oversubscribed 4.85 times as of 5:00 pm.

The issue received bids for 1,06,68,34,400 shares against the total size of 21,97,59,218 shares, as per NSE data.

The company had, on Monday, raised Rs 2,322 crore from anchor investors.

The public issue comprises sale of 1,91,246,050 equity shares, amounting to 9.55 percent stake, by HDFC Ltd and up to 1,08,581,768 scrips, or 5.42 percent, holding by Standard Life Mauritius. The price band for the offer was fixed at Rs 275-290 per share.

At present, HDFC owns 61.41 percent stake in HDFC Standard Life and Standard Life has about 34.86 percent stake, while the remaining is with employees and PremjiInvest.
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