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Standard Life plans to divest up to 4.5% stake in HDFC Life Insurance

From October lows of Rs 575, shares of HDFC Life had gained as much as 8 per cent amid strong buying in shares of private insurers

stake sale, shares, investors, investment
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Subrata Kumar PandaBloomberg Mumbai
UK’s Standard Life is planning to divest up to 4.5 per cent stake in HDFC Life Insurance. According to terms of a detail obtained by Bloomberg, the shares will be offered in the range between Rs 562 and Rs 575. 
 
Shares of HDFC Life closed 1.6 per cent lower at Rs 610.4 on the BSE, even as the Sensex rose 1.5 per cent. 

The share sale is worth $600 million with an option to sell an additional $200 million. Standard Life could raise between Rs 4,200 crore and Rs 5,600 crore through the share sale. Bank of America Merrill Lynch is

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First Published: Oct 30 2019 | 1:16 AM IST

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