HDFC Standard Life extends gains post debut, spikes 27% against issue price
The stock was listed at Rs 311, a 7% premium against issue price of Rs 290 per share on the BSE. It was opened at Rs 310 on the National Stock Exchange. LATEST NEWS : HDFC Standard Life Insurance Company (HDFCSL) made a positive debut by listing at Rs 311, a 7% premium against issue price of Rs 290 per share on the BSE. The stock opened at Rs 310 on the National Stock Exchange (NSE). At 11:36 AM; the stock was trading at Rs 340 on the BSE and NSE, after hitting an intra-day high of Rs 369, up 27% against its issue price. HDFCSL's Rs 8,695 crore initial public offer (IPO) was oversubscribed 4.9 times to its issue size. The issue got strong response from the qualified institutional buyers (QIBs), which saw 16.6 times more demand than shares on offer. Barring the QIB portion, most other categories saw a lukewarm response. The retail portion was subscribed 94%. The high net worth individual (HNI) portion was subscribed 2.3 times, the stock exchange data show...