India’s Leading Mortagage Company, Housing Development Finance Corporation Limited (HDFC), is planning to launch an IPO for the Bank’s Insurance Venture in the year 2009.
HDFC chairman has said that “We hope to come out with an IPO of HDFC Life Insurance Venture by the year end of 2009. HDFC Standard Life Insurance Company Limited, is a joint venture in which the British Insurance Company Standard Life holds 18.1 per cent stake.
HDFC Life Insurance has started operations in the year 2000 and the gross premium income of HDFC Life Insurance for the Year ended March 2007 stood at Rs 2856 crore.
It would be interesting to see Insurance companies hitting the IPO markets. HDFC Life Insurance IPO would be a good interesting bet for the investors if the IPO takes off.
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