Business Standard

Monday, December 23, 2024 | 08:39 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

HDFC Life drops 6% on stake sale announcement by Standard Life

At present, Standard Life holds 29.2 per cent stake in the life insurance company while HDFC, the majority stakeholder, has 51.5 per cent stake.

markets
Premium

markets

SI Reporter New Delhi
Shares of HDFC Life Insurance dropped as much as 5.8 per cent to Rs 367.55 apiece on the National Stock Exchange (NSE) in the early trade on Tuesday after Standard Life Mauritius Holdings, the joint venture partner in HDFC Life Insurance, said it was planning to sell 4.93 per cent stake, or 99.5 million shares, in the life insurance firm at a floor price of Rs 357.50 per equity share. This is supposed to fetch Standard Life close to Rs 3,557 crore.

The stake sale by Standard Life in HDFC Life comes shortly after the stake sale by BNP Paribas Cardif,

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