The share price rallied as much as 27.24 percent intraday while it opened with 8 percent premium on the NSE.
The share price opened at Rs 313 per share against issue price of Rs 290.
Although analysts are not expecting a blockbuster listing, a small premium to the issue price could well be on the cards.
This would be third life insurance company getting listing on exchanges, after ICICI Prudential Life and SBI Life.
Investing in Bharat 22 ETF is like participating in the Indian growth story and I am sure investors will take part in this growth story said, Neeraj Kumar Gupta, Secretary, DIPAM.
As much as 25 percent of the total issue size, or Rs 2,000 crore, was reserved for anchor investors who put in bids worth about Rs 12,000 crore, ICICI Prudential MF said.
Khadim India has settled the trade at Rs 688.85 per share on the National Stock Exchange against IPO price of Rs 750. During the day, it could not cross issue price.
During the initial share sale, as many as 307 shareholders will sell 63,31,674 shares of the company, according to the draft red herring prospectus (DRHP )filed with Sebi.
The stock fell as much as 4.5 percent in early trade to hit day's low of Rs 716 while its pre-opening price of Rs 730 remained the highest level.
The company’s shares closed at Rs 725.05 apiece, down 3.18 percent to the listing price of Rs 748.90 apiece, on the BSE.
The Gurugram-based company has appointed Axis Capital and ICICI Securities as merchant bankers to advise it on its plans to list on the stock exchanges
The new entrant’s initial public offering (IPO), which sought to raise Rs 9,600 crore, was oversubscribed around 1.19 times. The price band was Rs 770-800 per share.
The country's largest general insurance firm New India Assurance Company, which recently concluded its initial public offer, will be making its stock market debut on Monday, November 13, and most likely at a discount or to a slight premium.
The 3rd party logistics (3PL) solutions provider raised Rs 829.35 crore through the issue, at higher end of price band of Rs 425-429 per share.
The company has managed to create a unique positioning in the industry and is an asset-light organization, said Pirojshaw Sarkari, CEO, Mahindra Logistics.
It touched day's low of Rs 416.10 on the National Stock Exchange while its issue price is day's high.
The reserved category of retail investors has oversubscribed 17.94 times and high networth individuals 1.21 times.
The initial public offering was oversubscribed over 7.9 times during October 31-November 2, 2017.
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 IPO, estimated to raise Rs 8,695 crore, received bids for 25,78,71,850 shares against the total issue size of 21,97,59,218 shares, as per NSE data.
According to a CNBC-TV 18 report, the ETF’s first tranche is expected to be released on November 14.
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.
HDFC Standard Life Insurance Company Limited's initial public offering (IPO) opens today and its after 22 years that the group has approached the capital market. The price band for the IPO is fixed between Rs 275 and Rs 290 per share and through the offer the existing shareholders will be diluting approximately 15 percent. CNBC-TV18’s Yash Jain caught up with the man of the moment, Amitabh Chaudhry, MD & CEO of HDFC Life and asked him about the strong anchor investor interest received by the company.
Brokerages largely recommend subscribing to the issue with a long term view, but point out the steep valuation of the issue despite strong fundamentals
HDFC and Standard Life Mauritius are two promoters of the company, which respectively hold 61.21 percent and 34.75 percent of equity shares as of October 25, 2017.