HDFC Life lists Rs 311 at 7% premium over issue price

India Infoline News Service | Mumbai | November 17, 2017 11:27 IST

Shares of HDFC Standard Life Insurance got listed at a ~7% premium on the stock exchanges.

Shares of HDFC Standard Life Insurance got listed at a ~7% premium on the stock exchanges. The stock rose as much as 8.27% to Rs 314 against its issue price of Rs 290.

The stock is currently trading at Rs 343.7, up by Rs 53.7 or 18.52% from its previous closing of Rs 290 on the BSE. The scrip opened at Rs 311 and has touched a high and low of Rs 369 and Rs 307.65 respectively. 

HDFC Life's initial public offer was subscribed 4.9 times by the end of the third day, with the insurer receiving bids for 1.08 bn shares as against 219.76 mn shares on offer.

The retail portion of the offer was subscribed 0.93 times and the non-institutional investor portion was subscribed 2.29 times, data on the bourses showed.

***Note: This is a NSE Chart

 

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