HDFC Standard Life's board approves resolution for IPO

Mumbai, July 18: HDFC on Monday said that the board of HDFC Standard Life Insurance Company has approved an "enabling resolution for an initial public offering (IPO)".

According to a BSE filing, the proposed IPO will be done through an offer-for-sale (OFS) route for up to 20 per cent of HDFC Standard Life Insurance Company's paid up and issued equity share capital by JV partners HDFC and Standard Life (Mauritius Holdings) 2006 Ltd.

"The IPO is subject to relevant regulatory and other necessary approval," HDFC said in the regulatory filing.