Stocks

HDFC AMC drops nearly 3% as Standard Life's OFS kicks off

Internet Desk | Updated on June 17, 2020

Shares of HDFC Asset Management Company dropped over 3 per cent on Wednesday as one of the promoters, Standard Life Investments, announced an offer for sale (OFS) for selling up to 60 lakhs shares in the AMC, forming 2.82 per cent of total equity.

The two-day OFS will close on Thursday.

The sale price of the OFS shares was fixed at Rs 2,362 apiece, 7 per cent discount to Tuesday’s closing price of Rs 2,538.

The shares fell as much as 2.64 per cent in the morning trade to Rs 2,472.95.

Published on June 17, 2020

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