Standard Life sells ₹3,225 cr worth HDFC Life shares

Our Bureau Chennai | Updated on August 14, 2019

Shares worth ₹3,225.49 crore of HDFC Life Insurance were sold by one of its promoters on Wednesday. According to bulk deal data on the BSE, Standard Life (Mauritius Holdings) 2006 sold 6.71 crore shares of HDFC Life at an average price of ₹480.70.

Of that, 1.416 crore shares were bought by Capital World Growth and Income Fund. The identity of the other buyers were not known.

At the end of June 2019, Standard Life (Mauritius Holdings), foreign promoter entity, had held 46.44 crore shares, which represented 23.02 per cent stake in HDFC Life. The other promoter HDFC holds 103.85 crore shares (51.48 per cent stake). Recently, global capital market indices provider MSCI announced the inclusion of HDFC Life to its Global Standard Index with effect from August 28.

Published on August 14, 2019

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