Standard Life’s India joint venture plans IPO

Edinburgh-based Standard Life said its Indian joint venture HDFC Life plans to have an initial public offering (IPO) of up to 10% of its shares.

Standard Life has a 26% shareholding in HDFC Life and is in the process of increasing its stake to 35%.

Standard Life said it has no intention to dispose of its shares in HDFC Life as part of the IPO.

Banking sources have previously said an IPO could raise more than $300 million, according to Reuters.

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Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.