 "HDFC Life to raise exposure to capital goods stocks on govt infra push")
The retail investor portion of HDFC Life Insurance Company’s offer for sale (OFS) garnered 84 per cent subscription. Retail investors bid for 8.4 million shares as against 10 million on offer, data from the exchanges showed. A day earlier, the institutional investor portion of the OFS was subscribed more than two times.
The unsubscribed shares in the retail segment will be allotted to institutional investors. Through the OFS, UK’s Standard Life has divested its 4.93 per cent stake to raise about Rs 3,600 crore.
The unsubscribed shares in the retail segment will be allotted to institutional investors. Through the OFS, UK’s Standard Life has divested its 4.93 per cent stake to raise about Rs 3,600 crore.
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