Standard Life sells 3.3% stake in HDFC Life Insurance for Rs 3,220 crore

Standard Life Mauritius Holdings held 23.02% stake in HDFC Life as on June 30, 2019

Standard Life, the foreign partner in HDFC Life Insurance Company Ltd, on Wednesday sold 3.3 per cent stake in the insurer for Rs 3,220 crore.

Standard Life (Mauritius Holdings) 2006 Ltd sold 6.7 crore shares at Rs 480.70 per share, BSE data showed.

Standard Life Mauritius Holdings held 23.02 per cent stake in HDFC Life as on June 30, 2019, while HDFC had 51.48 per cent stake in the company.

Shares of HDFC Life on Wednesday settled at Rs 516.70 on the BSE, 0.46 per cent lower than the previous close.