HDFC Standard Life Insurance Company Ltd

hdfc life insurance

About the Company:

HDFC Life (HDFC Standard Life Insurance Company) is a Life insurance provider with its headquarters in Mumbai, offering individual and group insurance.

Company was established in 2000 as a joint venture between Housing Development Finance Corporation Ltd (HDFC), one of India’s leading housing finance institution and Standard Life Aberdeen PLC, leading well known provider of financial savings & investments services in the United Kingdom.

Company is one of the most profitable life insurers, based on Value of New Business (VNB) margin, among the top five private life insurers in India.

Company has a market share among private life insurers in India in terms of total new business premium increasing from 15.8% in Fiscal 2015 to 17.2% in Fiscal

Company had 66,372 individual agents as at September 30, 2017, which comprise 6.8% of the all private agents in the Indian life insurance industry.

Company has a pan-India presence, comprising 414 branches and spokes across India.

In Fiscal 2012,Company established a wholly-owned subsidiary, HDFC Pension, to operate the pension fund business under the National Pension System.

HDFC Pension is the second largest private pension fund management company in India in terms of assets under management and subscribers in Fiscal 2017.

In Fiscal 2016,Company established their first international subsidiary in the UAE, HDFC International, to operate the reinsurance business.


Management Team:

  1. Mr.Deepak Parekh (Designation: Nominee Director and Chairman)
  2. Mr.Sir Gerald Grimstone (Designation: Nominee Director)
  3. Mr.Keki Mistry (Designation: Nominee Director)
  4. Mr.Amitabh Chaudhry (Designation: Managing Director & Chief Executive Officer)


Promoters Average Acquisition Cost:

Name of the Promoter No. of Shares held Average Acquisition Cost (in Rs.)
HDFC 1,229,760,125 10.71
Standard Life Mauritius 698,208,033 41.79


TOP 10 Shareholders:

Sr.No. Shareholder Name Number of Equity Shares held Percentage of Equity Share Capital %
1. HDFC 1,229,760,125 61.21
2. Standard Life Mauritius 698,208,033 34.75
3. Azim Premji Trust 18,951,361 0.94
4. Mr. Amitabh Chaudhry 4,564,087 0.22
5. Ms. Vibha Padalkar 1,961,750 0.10
6. Mr. Deepak Parekh 1,367,877 0.07
7. Mr. Subrat Mohanty 1,226,000 0.06
8. Mr. Rajendra Ghag and Mr. Srinivasan Parthasarathy 1,158,890 0.06
9. Mr. Keki Mistry 1,125,000 0.06
10. Ms. Renu Karnad 1,125,000 0.06
Total 1,959,448,123 97.53%


Promoters Stake Pre & Post Issue:

Shareholder Name Pre Issue Stake (%) Post Issue Stake
HDFC 61.21 51.69
Standard Life Mauritius 34.75 29.35
Promoter Group Entities               NIL           NIL
Total 95.96% 81.04%


Positives for the Company:

  • Experienced Leadership Team.
  • Strong parentage and a trusted brand.
  • Strong financial performance defined by consistent and profitable growth;
  • Growing and profitable multi-channel distribution footprint.
  • Leading digital platform that provides a superior experience for customers and distributors.


Financials of the Company:

(in Crores) FY 13 FY 14 FY 15 FY 16 FY 17 30th June 17
Revenue 14,016.3 17,290.7 27,090.6 18,066 30,554.4 6,487.4
Net Profit 447.7 725.4 785.5 818.4 892.1 316.4


Valuation of Peer Group Companies:

Company Name Face Value EPS PE Ratio RoNW NAV
HDFC Standard Life Insurance Company Ltd 10 4.4 65.9 25.7% 19.1
ICICI Prudential Insurance Company
10 11.7 33.4 28.7% 44.6
SBI Life Insurance Company
10 9.6 69.4 18.6% 55.5


IPO Details:

Details Info
Issue Opens on 7th November 2017
Issue Closes on:. 9th November2017
Issue Price Rs.275 – 290
Face Value Rs.10
Retail Allocation 35%
Minimum Lot 50
Minimum Investment Rs.14,500
Issue Constitutes 14.92%
Issue Size Rs.8694.98 cr ($1.3 billion)
Market Cap Rs.58,260 cr ($8.96 billion)
Listing at NSE & BSE
Total Equity Shares Offered (OFS) 29,98,27,818
Equity Shares Prior to the issue 200,89,73,222
Equity Shares after the issue 200,89,73,222


Important Dates:

Finalization of Basis of Alottment on or Before 14th November 2017
Initiation of Refunds on or Before 15th November 2017
Credit of Equity Shares: on or Before 16th November 2017
Listing Date: on or Before 17th November 2017


Subscription Details:

(Subscription-Category-Wise (no. of times) Till time : 07:15 PM) Shares Offered Day-1 Day-2 Day-3
QIB  5,33,79,158  1.396  3.41 16.5
NII  4,00,34,328  0.23  0.322 2.2
Retail  9,34,13,431  0.146  0.33 0.9
Employee    29,49,520  0.437  0.66 1.2
Reservation Portion Shareholder 2,99,82,781  0.072  0.147 0.29
TOTAL  21,97,59,218  0.453  1.052 4.9


Grey Market Premium :

Date IPO Price Band Grey Market premium Kostak Rates
16/11/17 HDFC Life  275 – 290  15- 18  300 – 315

Note: Grey Market Premium is just an indicative price prevailing in the market ,However it keeps on changing on daily basis based on various conditions in the market.(So don’t apply by just looking at GMP)


IPO Valuation parameters:

Earnings Per Share (EPS) Price To Earnings ratio (PE) Return on Net Worth (RoNW) Net Asset Value (NAV)
4.4 65.9 25.7% 19.1


Markets Guruji Opinion:

IPO View Apply For: Expected listing Gain:
Subscribe Long Term 10%


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Company Contact Info:
13th Floor, Lodha Excelus
Apollo Mills Compound
N. M. Joshi Marg, Mahalaxmi
Mumbai 400 011
Maharashtra, India
Telephone: +91 (22) 6751 6666


IPO Registrar Info:
Karvy Computershare Private Limited
Karvy Selenium Tower B, Plot 31-32,
Gachibowli, Financial District,
Nanakramguda, Hyderabad 500 032, India
Telephone: +91 (40) 6716 2222
Facsimile: +91 (40) 2343 1551
Investor Grievance ID: