As of 31-Dec-2023, promoters held 0.0 per cent stake in the company, while FIIs held 14.73 per cent and domestic institutional investors had 5.58 per cent.
HDFC Life and Max Life are expected to react more favourably to the fresh development. Nomura said the IRDAI decision is expected to mitigate ambiguity within the sector and could prompt a positive upswing.