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

Standard Life, the foreign partner in HDFC Life Insurance Company Ltd, on Wednesday, sold 3.3 percent 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 percent stake in HDFC Life as on June 30, 2019, while HDFC had 51.48 percent stake in the company. Shares of HDFC Life on Wednesday settled at Rs 516.70 on the BSE, 0.46 percent lower than the previous close.