Tag: Standard Life

Standard Life sells 4.99 per cent stake in HDFC Life

Banking & Finance

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Standard Life has sold 10.08 crore shares amounting to 4.99 per cent stake in HDFC Life Insurance.

The transaction took place on June 29.

“We are enclosing herewith a communication received from Standard Life (Mauritius Holdings) 2006 Limited, one of the promoters of the company, stating that they have undertaken a sale of 100,845,104 equity shares of the company (representing approximately 4.99 per cent of the total issued and paid-up equity share capital of the company) on June 29,” HDFC Life said in a regulatory filing on Thursday.

Post the transaction, Standard Life holds 7.86 crore shares amounting to 3.89 per cent stake in HDFC Life.

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Standard Life to sell 7 crore shares of HDFC Life Insurance via block deals

Banking & Finance

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Standard Life is looking to sell seven crore shares, or 3.46 per cent, in HDFC Life Insurance. This will be through block deals on June 29. The price range has been fixed at ₹658-678 a share. At the lower end of the price range, the base offer size would amount to ₹4,606 crore. JP Morgan India and BoFA Securities India are the joint book runners. As on March 31, 2021, Standard Life held 17.95 crore shares amounting to 8.88 per cent in HDFC Life Insurance. HDFC Life stock closed at ₹696 a piece on the BSE on Monday.

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