Abrdn Investment Management Ltd (formerly Standard Life Investments Ltd) has sold about 34 per cent of the estimated 3.45 crore shares it holds in HDFC Asset Management Company for ₹2,303 crore.

As per the Bulk deal disclosure on the BSE, Abrdn sold 1.19 crore share in HDFC AMC at ₹1,935.63 apiece. At the time of writing the story, the BSE had not updated the buyer’s details.

Post the sale of a portion of its stake, Abrdn will have about 10.63 per cent stake in HDFC AMC against 16.21 per cent earlier. HDFC is the biggest shareholder in the mutual fund with 52.59 per cent stake.

HDFC AMC’s shares closed at ₹2,180.75 apiece, up 11.48 per cent (or ₹224.60) over the previous close on the BSE.

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