Standard Life to sell 2.8% stake in HDFC AMC through offer for sale

At floor price, the OFS can fetch over Rs 1,400 crore

Standard Life Investments, one of the promoters in HDFC Asset Management Company (AMC), is looking to offload upto 2.82 per cent stake in the company through offer for sale (OFS), which will be open on Wednesday and Thursday.

The OFS of upto 6 million shares will be floated at floor price of Rs 2,362 per share, which is at 6.8 per cent discount to the stock’s closing price on NSE. At the floor price, the OFS can fetch Rs 1,417 crore if all shares are sold.

However, the allocation will be decided at or above the floor price, depending upon the bids