IPO plans afoot at HDFC Standard Life

IPO plans afoot at HDFC Standard Life Insurance company HDFC Standard Life is mulling an IPO, according to the visiting Standard Life Chairman Gerry Grimstone, reports CNBC-TV18. “Both HDFC and ourselves are very ambitious about our business in India. We have already talked about a possibility of that business in due course. No date has been fixed yet. But it could be sometime in the next couple of years. It depends on market circumstances and we are ambitious for that. I am sure the flows will carry on in India,” said Gerry Grimstone. Incidentally, Grimstone is also managing an 8 billion euro private equity fund, Candevour, which is set to shortly open an office in Mumbai. Grimstone said he is excited by the services sector and is looking for opportunities in the outsourcing space.