HDFC Standard Life aims for the sky in $1.3bn IPO
HDFC Standard Life Insurance Co is set to price its IPO at the top of guidance to raise Rp86.95bn ($1.3bn), having closed books nearly five times subscribed, according to a banker on the deal.
The insurer, one of India’s largest and most profitable, is floating 299.8m secondary shares, which were on offer at Rp275-Rp290 each.
The deal had a potential size of Rp82.5bn-Rp86.95bn. But there is no doubt now that the shares will be priced at the top of the range,
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