A SBI research report Ecowrap said
Shares of HDFC Life are currently up 28 per cent over its issue price
Together the issuer will sell 24.43 per cent or 9,784,570 shares with a face value of Rs 10 each, for up to Rs 650 crore.
This year so far, 33 companies have raised over Rs 60,000 crore through IPOs
Most of the proceeds from the issue will go to the Griffin while the rest to the promoter group, Mayur Toshniwal
In 2017, country has seen a record year for IPOs with proceeds from initial share sales topping $11 bn
A total of Rs 12,275 crore has been raised through the anchor investor route in 27 IPOs this year till now; issue size was Rs 41,791 crore
Griffin Partners had recently also sold about 5% stake in FSCSL to two entities of financial services firm Edelweiss
The IPOs of New India Assurance (NIA) and General Insurance Corporation (GIC), both government-owned like National Insurance, failed to enthuse small investors
HDFC Life's IPO witnessed a record participation from anchor investors
Street was expecting muted listing given tepid demand from retail and HNI during the Rs 8,700-cr IPO
HDFC Life's rival SBI Life has also shed 6.4 percent since its listing last month after a $1.3 billion IPO
Seven Islands Shipping is a liquid sea-borne logistics company
In intra-day trade, it hit a high of Rs 434 and a low of Rs 416 on the National Stock Exchange
Poor post-listing performance of insurance firms impacted small investors' sentiments towards the IPO: Market players
The IPO, estimated to raise Rs 8,695 crore, received bids for 25,17,92,650 shares against the total issue size of 21,97,59,218 shares
Third IPO from the group after ICICI Prudential Life and ICICI Lombard
The price band for the offer has been fixed at Rs 275-290 per share
The public issue comprises sale of 1,91,246,050 equity shares, amounting to 9.55 % stake, by HDFC Ltd and up to 1,08,581,768 scrips, or 5.42 %, holding by Standard Life Mauritius
The price band of the IPO has been fixed at Rs 275 to Rs 290 per equity share