 |
| hdfc investment plans |
hdfc insurance
The Administrative Board of Housing Development Finance Corp Ltd (HDFC) approved a proposal to sell shares of the HDFC the standard Life Insurance Company unit the public for the first time.The plan is to do this transfer in the second part of the schedule year - Keki Mistry Vice President & CEO of HDFC financier mortgage.The move hdfc insurance The Standard Life the first insurance in India to 'start-the-process an 'initial-public-offering' | IPO |.In to a regulatory filing on Tuesday, the company reported that the meeting board held on 18 April it has approved the sale up to a 10% interest in HDFC Life.
The board has approved to take measures to initiate the process for an IPO by means of the sale by the company up to 10% stake in HDFC Life the society said. According Mistry HDFC sought to raise money by means his business life insurance for some time hdfc insurance.The approval board was needed to start the process, we now have received - said Mistry. hdfc insurance
The issue is pending regulatory approval by the Securities and Exchange Board of India (Sebi) and to Insurance Regulatory Development Authority of India (IRDAI)."hdfc insurance"
The company did not hired investment bankers for IPO, Mistry said. HDFC holds about 61.65% in life assurance arm.Earlier this monthStandard Life increased its interest to 35% in life insurance a joint venture (JV) by purchasing a 9% compared with Rs.1,705 crore for hdfc insurance .
The deal was valued HDFC The Standard Life at Rs.18,500 crore. hdfc insurance The remaining holding was provided by stock options a spokesman HDFC said.
In a cash prize of announcement latter August, hdfc insurance said it would sell approximately 179.5 million shares in the JV insurance at a cost of Rs.95 each at Standard Life hdfc insurance.
"HDFC is a top level name in the industry & therefore it is good-that-they begin this. It will set a good priority for the industry in-terms-public announcements said by Girish Nadkarni, CEO Motilal Oswal Investment Advisors of Pvt. Ltd a banking firm investing. hdfc insurance
Nearly everyone in the industry will look at raising capital by means IPO. Insurance as a company that requires large amounts of principal and a list will certainly help businesses to raise capital ,hdfc insurance.
In an interview wif Press Trust of India February 3, SBI Life Insurance Company CEO Arijit Basu said the company would consider an IPO According its foreign venture partner BNP Paribas Cardiff approve an equity infusion of 10%.
Foreign investors are have started to plow in the principal of Indian counterparts after government allowed them increase their participation from 26% to 49% hdfc insurance.
Some strategic foreign partners who increased their participation or offered to dial up includes HSBC Insurance Holdings Ltd in Canara HSBC Oriental Bank of Commerce Life Insurance Company Ltd; Aviva Plc Aviva India Life Insurance; hdfc insurance, Insurance Australia Group Ltd. SBI assurances générales; and Max Bupa Plc in Bupa the Health Insurance Co Ltd., among others.
Changing of foreign direct investment norms has also led to additional offers in the insurance space.
In December ICICI Bank sold a large 6% of its life insurance risk to Rs.1,950 crore. Of this amount, a 4% stake was sold PremjiInvest and its affiliates. Remaining interest went to Compassvale Investments Pte Ltdmeans a unit of investment company Singapore based scholarships Temasek Holdings the bank had informed. hdfc insurance
The deal valued ICICI Prudential Life Insurance Company to Rs.32,500 crore.
October 31, ICICI Bank announced the sale of a 9% stake in its and casualty insurance affiliate ICICI Lombard General Insurance Co. To Fairfax Financial Holdings for Rs.1,550 cr. The a proposed transaction assessed the Casualty Insurance Company to Rs.17,225 crore.
.jpg)
