<article>The board of HDFC has approved a 9.57 per cent stake sale in HDFC Life through an IPO, while Marico has acquired Isoplus brand from JM Products for $5.7 million.</article>

The board of HDFC has approved a 9.57 per cent stake sale in HDFC Life through an IPO, while Marico has acquired Isoplus brand from JM Products for $5.7 million.
<h3>HDFC Life gets nod for 9.57% stake sale through IPO</h3>
The board of<a href="http://dealstreetasia.com/tag/hdfc" target="_blank" rel="noopener noreferrer"> HDFC Ltd</a> has approved sale of over 190 million shares amounting to 9.57 per cent stake, in its subsidiary <a style="color: #000080;" href="http://dealstreetasia.com/tag/hdfc-life" target="_blank" rel="noopener noreferrer">HDFC Life</a>, through its proposed public offer.
“The Corporation (HDFC) has approved offering of up to 19,12,46,050 equity shares of HDFC Life, a material non-listed subsidiary of the Corporation, representing 9.57% of the paid-up and issued equity share capital of HDFC Life as on current data, for sale in the IPO,” HDFC said in a filing to the stock exchanges.
The board of directors of HDFC, on 17 July, approved an enabling resolution for an IPO, after HDFC Life recently decided to go ahead with the IPO dropping its plans for a merger with<a style="color: #000080;" href="http://dealstreetasia.com/tag/max-life" target="_blank" rel="noopener noreferrer"> Max Life Insurance Co. Ltd</a>.
The of HDFC Standard Life had passed a resolution approving the IPO by way of offering a combined 20 per cent holding, of which the UK-based JV partner  Standard Life wants to offload more than 10 per cent.
The insurance company is a joint venture between HDFC Ltd , which owns 61.52 per cent stake and Standard Life has 35 per cent.  HDFC said the size of the offer, price and other details will be determined in due course.
<h3>Marico acquires Isoplus brand from JM Products for $5.7m</h3>
FMCG major<a style="color: #000080;" href="http://dealstreetasia.com/tag/marico" target="_blank" rel="noopener noreferrer"> Marico</a>, through its wholly-owned subsidiary Marico South Africa has acquired hair styling brand Isoplus for 75 million South African Rand (around $5.7 million) from JM Products Pty.
“Marico South Africa Pty Ltd (MSA) today announced the acquisition of business including intellectual property rights of Isoplus from JM Products Pty Ltd and Mary L Harris,” Marico said in a statement.
Under the terms of the acquisition, Marico will also take over the manufacturing facilities, working capital and all intellectual property rights owned by JM Products and Mary L Harris.
JM Products is an African-American owned company that manufactures hair care products in South Africa.
“This bolt-on acquisition plugs a critical gap in Marico’s portfolio in the ethnic care space in South Africa,&#8221; Marico MD and CEO Saugata Gupta said.
Also Read:
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<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/india-hdfc-life-may-drop-max-merger-plans-77715/" target="_blank" rel="noopener noreferrer">India: HDFC Life may drop merger plans with Max, to push ahead with IPO</a>
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The board of HDFC has approved a 9.57 per cent stake sale in HDFC Life through an IPO, while Marico has acquired Isoplus brand from JM Products for $5.7m.

India Dealbook: HDFC Life gets nod for 9.57% stake sale via IPO; Marico buys Isoplus brand

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India Dealbook: HDFC Life gets nod for 9.57% stake sale via IPO; Marico buys Isoplus brand

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