HDFC Life Insurance Co. Ltd. recently filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India to sell a 14.97% stake via IPO.
On 17 July, the HDFC Life board passed a resolution, clearing the IPO by way of offering a combined 20% holding, of which the insurer’s UK-based JV partner, Standard Life (Mauritius Holdings) 2006 Ltd. is to off load more than 10%.
