The Securities and Exchange Board of India (SEBI) has raised observations regarding the HDFC Standard Life Insurance’s IPO based on the Draft Red Herring Prospectus filed, a source told Moneycontrol.
SEBI has sought clarification on a number of issues including the risk factors and conflict of interest between HDFC and HDFC Standard Life, among others.
The market regulator has asked HDFC Standard Life to explain the reason behind the sudden spike in its consolidated profit for FY14 as well as the spike in advances and assets in FY17.
HDFC Life did not respond to a mail sent by Moneycontrol.
