HDFC Standard Life Insurance Company’s initial public offer (IPO) worth Rs.8,695 crore opens for subscription today on November 7. The issue will close for subscription on November 9.

It has a price band of Rs.275-290 per share. Bids can be made for a minimum of 50 equity shares and in multiples of 50 shares thereafter.

The IPO offers 29,98,27,818 equity shares of HDFC Standard Life Insurance, out of which offer for sale of 19,12,46,050 shares offered by Housing Development Finance Corporation and up to 10,85,81,768 shares are offered by Standard Life (Mauritius Holdings) 2006 Limited.

Moreover, it comprises of a reservation of up to 21,44,520 shares for purchase by HDFC Life Employees, reservation of up to 8,05,000 shares for eligible HDFC Employees and reservation of up to 2,99,82,781 shares for HDFC shareholders.

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