Standard Life dumps 5 crore shares of HDFC Life Insurance Company Ltd

Standard Life (Mauritius Holdings) 2006 Limited (the "Seller") have sold 50,000,000 equity shares of the face value of Rs. 10 each ("Equity Shares") of HDFC Life Insurance Company Limited (the "Target Company"), representing approximately 2.48% of the total issued and paid-up Equity Share capital of the Target Company, by way of one or more share sales on the screen-based trading of BSE Limited ("BSE") and National Stock Exchange of India Limited ("NSE", and together with BSE, the "Stock Exchanges") (the "Sale").

Post this transaction, the promoter entity's stake has reduced from 297,311,893 equity shares (14.73%) to 247,311,893 equity shares (12.25%).

Shares of HDFC Life Insurance Company Ltd was last trading in BSE at Rs.411.6 as compared to the previous close of Rs. 440.85. The total number of shares traded during the day was 196755 in over 6740 trades.

The stock hit an intraday high of Rs. 443.5 and intraday low of 404. The net turnover during the day was Rs. 82976024.

Source : Equity Bulls

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