Abrdn sells entire stake in HDFC Life
Abrdn sells entire stake in HDFC Life Abrdn (Mauritius Holdings) has sold its entire 1.66% stake in HDFC Life Insurance via block deals on Wednesday. Abrdn was one of the promoters of HDFC Life. According to a stock exchange filing, Abrdn (Mauritius Holdings) 2006 Limited undertaken a sale of 3,56,94,105 equity shares (representing approximately 1.66% of the total issued and paid-up equity share capital of the Company) on May 31 to various investors through the screen-based trading system of the stock exchanges, at an average price of Rs 570.60 per equity share (including brokerage and commission). “The Sale is subject to the settlement process prescribed for the stock exchanges under the extant regulation and is expected to be completed on Thursday, June 1, 2023.“Pursuant to the settlement of the sale, Abrdn will hold nil equity shares in the company” the filing added.
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