InvestorQ : When is Standard Life planning to sell shares of HDFC AMC?
Aditi Sharma made post

When is Standard Life planning to sell shares of HDFC AMC?

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Mahima Roy answered.
3 months ago
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Standard Life Investments, a holding partner of HDFC, plans to sell 5% stake in HDFC Asset Management Company via block deals. This deal is most likely to happen on Wednesday 29th September. At the price proposed, the total deal is likely to be valued at close to Rs.3,042 crore and is expected to be easily absorbed in the market considering the robust demand that AMC stocks have seen in the recent past.

Standard Life has also been exiting insurance business of the HDFC group in a series of tranches in recent quarters. Standard Life will offer 1.06 crore shares of HDFC AMC for sale at a floor price of Rs.2,870 per share. This represents a discount of 6.65% to the closing price of the stock on Tuesday 28th September. JP Morgan has been appointed as the deal advisor.
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