New Delhi : HDFC Standard Life Insurance Company has received capital markets regulator Sebi’s go ahead to raise an estimated Rs 7,500 crore through an initial public offering. The insurance firm had filed draft papers with Sebi in August and obtained its “observations” on October 13, which is very necessary for any company to launch public offer, latest update with the markets watchdog showed.
The public issue comprises sale of 1,91,246,050 equity shares, amounting to 9.55 per cent stake, by HDFC Ltd and up to 1,08,581,768 scrips, or 5.42 per cent, holding by Standard Life Mauritius, according to the draft prospectus.
