Business Standard

Standard Life sells 5% stake in HDFC Life Insurance in two tranches

A total of 100.8 million shares were sold in two tranches at Rs 672 and Rs 673; names of buyers couldn't be ascertained

HDFC Life
Premium

Photo: Shutterstock

BS Reporter Mumbai
Standard Life said on Tuesday that it divested 5 per cent stake in HDFC Life Insurance Company. A total of 100.8 million shares were sold in two tranches at Rs 672 and Rs 673.

Names of the buyers couldn’t be ascertained.

Standard Life raised a total of Rs 6,784 crore from the share sale.

Shares of HDFC Life fell 1.4 per cent to end at Rs 686.

The price range for the share sale has been fixed at Rs 658 to Rs 678 per share: a discount of between 2.6 per cent and 5.5 per cent to the life insurer’s

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in