AgenciesBritish asset manager abrdn plc will sell a stake of about 2% in Indian insurer through a block trade on Tuesday, according to a document seen by Reuters.
The offer is priced at Rs 564.1-578.55 ($7.11-$7.29) per share. HDFC Life shares closed at Rs 578.55 on Monday. At the lower end of the price range, the share sale would be worth $305 million.
Abrdn holds a 3.7% stake in HDFC Life, exchange data showed. Abrdn and HDFC Life did not immediately respond to Reuters' requests for comment.
BofA Securities is the sole bookrunner to the deal.
The offer is priced at Rs 564.1-578.55 ($7.11-$7.29) per share. HDFC Life shares closed at Rs 578.55 on Monday. At the lower end of the price range, the share sale would be worth $305 million.
Abrdn holds a 3.7% stake in HDFC Life, exchange data showed. Abrdn and HDFC Life did not immediately respond to Reuters' requests for comment.
BofA Securities is the sole bookrunner to the deal.
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