Standard Life to sell 7 crore shares of HDFC Life Insurance via block deals

Our Bureau Updated - June 28, 2021 at 08:59 PM.

Price range has been fixed at ₹658-678 a share

Close up of stock certificate emphasizing the word "shares". A crease down the middle marks where the paper certificate has been folded. A sepia tone color scheme dominates the image evoking an old time feel.

Standard Life is looking to sell seven crore shares, or 3.46 per cent, in HDFC Life Insurance. This will be through block deals on June 29. The price range has been fixed at ₹658-678 a share. At the lower end of the price range, the base offer size would amount to ₹4,606 crore. JP Morgan India and BoFA Securities India are the joint book runners. As on March 31, 2021, Standard Life held 17.95 crore shares amounting to 8.88 per cent in HDFC Life Insurance. HDFC Life stock closed at ₹696 a piece on the BSE on Monday.

Published on June 28, 2021 14:47
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