Housing Development Finance Corporation Limited NSE India S.E.

Equities

HDFC

INE001A01036

Housing Development Finance : India's HDFC Life set to hire four banks to manage up to $500 million IPO - IFR

May 05, 2016 at 02:01 am EDT

HONG KONG (Reuters) - HDFC Standard Life Insurance, a joint venture between India's HDFC (>> Housing Development Finance Corp Ltd) and Britain's Standard Life Plc (>> Standard Life Plc), is set to mandate four banks to manage a planned initial public offering worth up to $500 million (344 million pounds), IFR reported on Thursday, citing people close to the deal.

HDFC Life, as India's third-largest private-sector life insurer is known, will tap Citigroup, JPMorgan, Kotak Investment Banking and Morgan Stanley to handle the listing, expected to take place later this year, added IFR, a Thomson Reuters publication.

HDFC Life, JPMorgan, Kotak Investment Banking and Morgan Stanley didn't immediately reply to a Reuters request for comment on the listing. Citigroup declined to comment.

(Reporting by S. Anuradha of IFR; Additional reporting by Devidutta Tripathy in Mumbai; Writing by Elzio Barreto)

Stocks treated in this article : Housing Development Finance Corp Ltd, Standard Life Plc

Latest news about Housing Development Finance Corporation Limited

Kopvoorn B.V., Moss Investments Limited, Defati Investments Holding B.V., and Infinity Partners completed the acquisition of a majority stake in HDFC Credila Financial Services Limited from Housing Development Finance Corporation Limited for approximately INR 95.5 billion.	Mar. 18	CI
Indian Equities End Lower on Friday as Central Bank Tightens Norms on Consumer Loans	Nov. 17	MT
India's LTIMindtree misses Q1 profit view as clients cut spending	23-07-17	RE
India's HDFC Bank posts 30% jump in Q1 standalone net profit	23-07-17	RE
Weak demand for State Bank of India perpetual bonds as investors seek higher returns	23-07-13	RE
Housing Development Finance Corporation Limited(NSEI:HDFC) dropped from FTSE All-World Index	23-07-13	CI
Housing Development Finance Corporation Limited(BSE:500010) dropped from S&P Global BMI Index	23-07-13	CI
Housing Development Finance Corporation Limited(NSEI:HDFC) dropped from Nifty 50	23-07-12	CI
India's HDFC Bank to be added to MSCI Global indexes from July 13	23-07-07	RE
Indian Equities Close Flat Midweek, Weighed Down by Profit Booking	23-07-05	MT
INDIA STOCKS-Indian shares muted on weak global cues; financials slip	23-07-05	RE
HDFC Bank says merged loan book with HDFC at $273.8 bln as of June end	23-07-04	RE
LTIMindtree to replace HDFC in India's Nifty 50 index on July 13	23-07-04	RE
India's IDFC First Bank slips, IDFC hits record high after merger approval	23-07-04	RE
IDFC First Bank to merge with IDFC	23-07-03	RE
India's HDFC Bank at record high post HDFC-merger, among world's top 10 banks by value	23-07-03	RE
INDIA STOCKS-India's Nifty 50, Sensex rally continues on financials push	23-07-03	RE
Indian shares set to open higher on positive global cues	23-07-02	RE
HDFC to merge into HDFC Bank on July 1, create India’s financial behemoth	23-06-30	RE
Housing Development Finance Acquires 5.5% Stake in Xanadu Realty	23-06-29	MT
HDFC Bank Limited completed the scheme of amalgamation to acquire Housing Development Finance Corporation Limited, in a merger of equals transaction.	23-06-29	CI
Housing Development Finance Corporation Limited acquired 5.46% stake in Xanadu Realty Private Limited for INR 250 million.	23-06-28	CI
INDIA STOCKS-Indian shares hit record highs; Nifty closes a notch below 19,000	23-06-28	RE
Indian insurers await classification of HDFC bonds post-merger; assess impact on holdings	23-06-28	RE
Housing Development Finance Chairman to Retire After Merger with HDFC Bank	23-06-28	MT

Chart Housing Development Finance Corporation Limited

Duration

Period

Chart Housing Development Finance Corporation Limited

More charts

Company Profile

Housing Development Finance Corporation (HDFC) specializes in real estate loan. Net sales (including intragroup) break down by activity as follows: - real estate loan (45.7%): INR 66.2 billion of granted loans in 2018/19; - life insurance (39%); - non life insurance (12.3%); - asset management (2.3%); - other (0.7%).

Sector

More about the company