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HDFC Life Insurance in spotlight as Standard Life to reduce stake

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Life Company said one of its promoters, Standard Life, will sell up to 4.92% stake in the life firm through offer for sale (OFS). The (Mauritius Holdings) 2006, one of the promoters of the insurer, will sell stake through OFS on 12 March 2019 and the floor price for the sale will be Rs 357.50 per share, Life said in a regulatory filing. proposes to sell up to 7 crore shares, representing 3.47% equity, with an option to additionally sell up to 2.95 crore shares, representing 1.46% of the total issued and paid-up capital, it said. Currently, holds 29.22% stake in the life company while mortgage firm has a 51.48% stake. The announcement was made after market hours yesterday, 11 March 2019.

announced that the part repayment of the external commercial borrowing availed by the company, for working capital purposes, falling due on 11 March 2019, has been delayed owing to temporary liquidity constraints. The company has engaged with the lender in relation to the same. The announcement was made after market hours yesterday, 11 March 2019.

announced the launch of (morphine sulfate injection, USP - preservative-free) in 10 mg/mL and 25 mg/mL concentrations in the US market. is used for patients with intractable chronic pain. The announcement was made after market hours yesterday, 11 March 2019.

said it received additional pipe orders of 212 KMT on global basis. Out of these additional orders, 151 KMT will be serviced from The company's current order book stands at 1,667 KMTs valued at Rs 14,500 crore, after considering execution up to February 2019. The announcement was made after market hours yesterday, 11 March 2019.

announced that second phase of planned capex for medium voltage (MV) cables in is now operational. The announcement was made after market hours yesterday, 11 March 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 12 2019. 08:14 IST
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