BackHDFC to sell 19 million shares of HDFC Standard Life to Azim Premji Trust
The shares to be sold represent 0.95% of the total issued and paid-up equity capital of HDFC Life
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Mumbai: Housing Development and Finance Corp. Ltd (HDFC) on Monday said it has agreed to sell nearly 19 million equity shares of HDFC Standard Life Insurance Co. Ltd to the Azim Premji Trust at a price of ₹ 105 per share.
“The shares to be sold as above represent 0.95% of the total issued and paid-up equity capital of HDFC Life," HDFC said in a statement to BSE.
The mortgage financier has already completed the sale of over 11.9 million shares, it said. After all of the 19 million shares are sold to Azim Premji Trust, HDFC’s shareholding would be reduced to 71.42% of the life insurer’s total paid up capital.
HDFC shares ended at ₹ 1145.70 on the BSE, up 2.75% from the previous close.
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