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Abrdn sells 2% stake in HDFC Life at Rs 574 a share, mops up Rs 2,469 cr

Societe General bought shares worth Rs 469 cr, Integrated Core Strategies bought shares worth Rs 287 cr and Norges Bank bought shares worth Rs 234 cr

Topics
HDFC Life | Standard Life | HDFC group

BS Reporter  |  Mumbai 



stake, share, investment, equity, shareholder, promoter, banks, disinvestment, markets, returns, stocks,diversification
Following the share sale, Abrdn’s stake in HDFC Life has dropped to 1.7 per cent

Abrdn, formerly Standard Life, on Tuesday sold 2 per cent stake in private sector insurer Life Insurance Company.

The UK-based firm sold a total of 43 million at Rs 574 apiece to mop up Rs 2,469 crore. of Life last closed at Rs 587.

Societe General bought worth Rs 469 crore, Integrated Core Strategies bought shares worth Rs 287 crore and Norges Bank bought shares worth Rs 234 crore, block deal data disclosed by stock exchange showed.

Following the share sale, Abrdn’s stake in Life has dropped to 1.7 per cent.



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First Published: Tue, September 13 2022. 21:09 IST

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