Standard Life has sold 10.08 crore shares amounting to 4.99 per cent stake in HDFC Life Insurance.
The transaction took place on June 29.
“We are enclosing herewith a communication received from Standard Life (Mauritius Holdings) 2006 Limited, one of the promoters of the company, stating that they have undertaken a sale of 100,845,104 equity shares of the company (representing approximately 4.99 per cent of the total issued and paid-up equity share capital of the company) on June 29,” HDFC Life said in a regulatory filing on Thursday.
Post the transaction, Standard Life holds 7.86 crore shares amounting to 3.89 per cent stake in HDFC Life.