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Standard Life Aberdeen on Friday divested 2.5 per cent stake in HDFC Life Insurance Company.
The UK-based firm sold shares offloaded 50 million shares at Rs 441.2 apiece to raise Rs 2,200 crore. Prior to the stake sale, Standard Life, a co-promoter along with HDFC, held 14.73 per cent in the private life insurer.
Shares were priced at a discount of nearly 7 per cent to Thursday’s volume weighted average price (VWAP) and 3 per cent to the three—day VWAP. The share sale was successful despite challenging market conditions.
Market sources say investment bankers launched the transaction after they got
