Stake reduced to 71.42%
Housing Development Finance Corporation announced that the Corporation has concluded the sale of balance 69,82,361 equity shares of HDFC Standard Life Insurance (HDFC Life) and consequently, the Corporation holds 71.42% of the total issued and paid-up equity capital of HDFC Life.Earlier, the Company had agreed to sell up to 1,89,51,361 equity shares of Rs. 10/- each of HDFC Life representing 0.95% of the total issued and paid-up equity capital of HDFC Life to the Azim Premji Trust at a price of Rs. 105 per share and the sale of 1,19,69,000 shares in first tranche on the said date.
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