|Opening of Offer for Sale for HDFC Life Insurance Company Limited
Trading and Custodian Members of the Exchange are requested to refer to notice nos. 20190118-43 dated January 18, 2019, detailing Revised Guidelines for Bidding in Offer for Sale (OFS) Segment. The above guidelines were issued by the Exchange with reference to Securities and Exchange Board of India (SEBI) circular no. SEBI/HO/MRD/DOPI/CIR/P/2018/159 dated December 28, 2018 regarding “Review of Offer for Sale (OFS) of Shares through Stock Exchange Mechanism”.
All Market Participants are hereby informed that, Standard Life (Mauritius Holdings) 2006 Limited (the “Seller”) proposes to sell up to 7,00,00,000 equity shares of HDFC Life Insurance Company Limited (formerly known as HDFC Standard Life Insurance Company Limited) (the “Company”) (representing 3.47% of the total issued and paid-up equity share capital of the Company) (“Base Offer Size”) on March 12, 2019 (“T Day”) (for non-retail investors only) and on March 13, 2019 (“T+1 Day”) (for retail investors and for non-retail investors who choose to carry forward their un-allotted bids), with an option to additionally sell up to 2,95,00,000 equity shares (representing 1.46% of the total issued and paid-up equity share capital of the Company) (the “Oversubscription Option” and in the event the Oversubscription Option is exercised, the Equity Shares forming part of the Base Offer Size and the Oversubscription Option will, collectively, hereinafter be referred to as the “Sale Shares”). In the event the Oversubscription Option is not exercised, the Equity Shares forming part of the Base Offer Size will hereinafter be referred to as the “Sale Shares”), through a separate, designated window of BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE” and together with BSE, the “Stock Exchanges”), and in accordance with SEBI circular no. CIR/MRD/DP/18/2012 dated July 18, 2012 regarding Comprehensive Guidelines for Offer for Sale of Shares by Promoters through the Stock Exchange Mechanism, as amended by SEBI circular no. CIR/MRD/DP/36/2016 dated February 15, 2016, SEBI circular no. CIR/MRD/DP/12/2015 dated June 26, 2015, SEBI circular no. CIR/MRD/DP/04/2013 dated January 25, 2013, SEBI circular no. CIR/MRD/DP/24/2014 dated August 8, 2014 and SEBI circular no. CIR/MRD/DP/31/2014 dated December 01, 2014. The particulars of the above offer for sale are attached to this notice.
The Floor Price for the Offer shall be Rs. 357.50/- (Rupees Three Hundred and Fifty Seven and Fifty Paise Only) per equity share.
Market participants are further requested to note that the Exchange would disseminate the details of this Offer for Sale on BSE Website – www.bseindia.com.
Additional General Manager
March 11, 2019