HDFC Standard Life Insurance Company is planning an initial public offering (IPO) in second half of 2016, Keki Mistry, VC & CEO, HDFC was quoted as saying.
The Foreign Investment Promotion Board (FIPB) recently allowed the UK-based Standard Life, HDFC’s partner in the insurance JV, to hike its stake to 35%.
HDFC Standard Life is one of the leaders in India’s life insurance sector. The IPO of HDFC Standard Life is one of the most awaited IPOs of 2016.
Analysts largely have a bullish view on the insurance sector. It is a hugely under-penetrated market. And there is a lot of opportunity in that space, an analyst was quoted as saying. Another analyst said insurance is a space where there will be a lot of action in next three to five years. As a space, it is going to be in focus and whoever, has an exposure to it will be a beneficiary, he added.
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