HDFC Life's Rs 8,700-cr IPO subscribed 4.8 times

Poor post-listing performance of insurance firms impacted small investors' sentiments towards the IPO: Market players

HDFC Standard Life Insurance Company’s Rs 8,700-crore initial public offering (IPO) — the largest by a private sector firm in nearly a decade — was subscribed five times on Thursday, the last day of the offering. The IPO saw bids worth Rs 30,827 crore, of which more than 80 per cent came from qualified institutional buyers (QIBs). The institutional investor category saw 16 times more demand than shares on offer.

Barring for the QIB portion, most other categories saw a lukewarm response. The retail portion was subscribed 80 per cent, with some bids yet to be uploaded. The high net