Public shareholding

HDFC Life restores free float after $451m block sale

Public shareholding in India’s largest life insurer went above 25% after the UK insurer sold 3.3% stake through an OFS.

 Standard Life Aberdeen sold Rs32.2 billion ($451 million) worth of HDFC Life Insurance shares through an offer for sale on Wednesday in a move that is intended to help its Indian partner increase its free float to meet regulatory requirement.

¬ Haymarket Media Limited. All rights reserved.

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