abrdn Investment Management to exit HDFC Mutual Fund

HDFC Asset Management Company Limited is in receipt of letter from abrdn Investment Management Limited, one of the promoters holding 10.21% of the paid-up share capital of the Company, intimating their intention to sell the entire stake in the Company subject to applicable regulatory provisions.

Consequent to the proposed stake sale, abrdn Investment Management Limited will cease to be a co-sponsor of HDFC Mutual Fund under SEBI (Mutual Funds) Regulations, 1996.

Shares of HDFC Asset Management Company Limited was last trading in BSE at Rs. 2192.35 as compared to the previous close of Rs. 2185.85. The total number of shares traded during the day was 4143 in over 608 trades.

The stock hit an intraday high of Rs. 2195.20 and intraday low of 2165.15. The net turnover during the day was Rs. 9047741.00.

Source : Equity Bulls

Keywords

HDFCAssetManagementCompany INE127D01025 HDFCMutualFund StakeSale abrdnInvestmentManagement