 |
Insurance
12-Sep-22
|
|
|
|
|
|
|
|
|
|
|
|
Abrdn to Offload 2% to HDFC Life in Block Trade
|
|
|
|
|
|
|
Abrdn, formerly Standard Life, is set to sell 2 percent of its stake in private sector insurer HDFC Life Insurance through block trades on Tuesday.
According to the term sheet, Abrdn (Mauritius Holdings) will acquire a block of 43 million shares of HDFC Life at Rs 564.1-Rs 578.55 per share. Shares of HDFC Life closed at Rs 580 each on Monday.
The stake sale could fetch the UK-based financial institution at least Rs 2,425.6 crore.
Promoter stake in HDFC Life stood at 51.2 per cent at the end of June 2022 quarter. Mortgage lender HDFC Ltd holds 47.79 percent and Abrdn 3.7 percent.
HDFC Life recently allotted 37.5 million shares to HDFC on a preferential basis to raise Rs 2,000 crore.
Currently, HDFC Life's promoter companies hold 52.3 per cent stake in the insurer, with HDFC holding 48.7 per cent and Abrdn (Mauritius Holdings) 3.7 per cent, according to the term sheet.
After the block trade, Abrdn will hold 1.7 per cent stake in the company and the promoter company's stake will come down to 50.3 per cent.
As per the norms of the insurance regulator, the minimum shareholding of the promoters/promoter group of the company should be maintained at 50 percent of the paid up equity capital of the company.
|
|
|
|
Previous News |
HDFC Life Insurance Company
(
Results
-
Analysis
22-Oct-22
08:56
)
|
|
|
HDFC Life Insurance Company allots 20,807 equity shares under ESOS
(
Corporate News
-
28-Feb-24
09:53
)
|
|
|
HDFC Life Insurance Company announces board meeting date
(
Corporate News
-
30-Dec-23
11:06
)
|
|
|
HDFC Life Insurance Company Ltd spurts 1.38%, gains for third straight session
(
Hot Pursuit
-
02-Sep-22
13:06
)
|
|
|
HDFC Life Insurance Company grants 3.24 lakh stock options
(
Corporate News
-
16-Mar-22
08:28
)
|
|
|
NSDC join hands with HDFC Life to boost entrepreneurial skills
(
Insurance
-
15-Feb-23
15:32
)
|
|
|
HDFC Life Insurance Company consolidated net profit declines 40.17% in the June 2021 quarter
(
Results
-
Announcements
19-Jul-21
16:17
)
|
|
|
Standard Life pares stake in HDFC Life Insurance
(
Hot Pursuit
-
30-Jun-21
11:21
)
|
|
|
HDFC Life Insurance Company
(
Results
-
Analysis
28-Apr-20
13:45
)
|
|
|
HDFC Life Q1 PAT drops 33% YoY to Rs 302 crore
(
Hot Pursuit
-
19-Jul-21
16:20
)
|
|
|
HDFC Life Insurance Company Ltd soars 1.05%, gains for fifth straight session
(
Hot Pursuit
-
27-Aug-21
13:01
)
|
|
|
|
|
|
Other Stories |
|
|
|
|
|
|
|
|
|
|
|
|
|