Promoter group Abrdn likely to offload entire stake in HDFC Life via block deal: Report

UK-based Abrdn is set to sell its 1.66% stake in HDFC Life via a block deal, which will take place on Wednesday. The stake is being sold at a price of INR563-585 ($7.62-$7.92) per share. During Q1 2021, HDFC Life Insurance posted a net profit of INR359 crore. Its net premium income for Q1 stood at INR19,426 crore, compared to INR14,290 crore year on year. Public shareholders have a 49.66% overall stake in the company, while mutual funds own around 4.09% and foreign investors have nearly 30%.

Promoter group Abrdn likely to offload entire stake in HDFC Life via block deal: Report
UK-based Abrdn is set to sell its 1.66% stake in HDFC Life via a block deal, which will take place on Wednesday. The stake is being sold at a price of INR563-585 ($7.62-$7.92) per share. During Q1 2021, HDFC Life Insurance posted a net profit of INR359 crore. Its net premium income for Q1 stood at INR19,426 crore, compared to INR14,290 crore year on year. Public shareholders have a 49.66% overall stake in the company, while mutual funds own around 4.09% and foreign investors have nearly 30%.