 "HDFC AMC falls 5% as Standard Life’ OFS begins")
Shares of HDFC Asset Management Company (AMC) slipped 5 per cent to Rs 2,406.80 at 03:12 pm on the BSE on Wednesday as Standard Life Investments' offer for sale (OFS) opened for non-retail investors today.
Standard Life Investments, one of the promoters in HDFC AMC, is looking to offload up to 2.82 per cent stake in the company through OFS, which opened on Wednesday and will close Thursday. The OFS of up to 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
