Over the next two trading sessions, promoter firm in HDFC Asset Management Company, Standard Life Investments, will sell 5.64% stake in the firm via an offer for sale or OFS.
As on March 31, Standard Life Investments and HDFC held 26.89 percent and 52.72 percent stake, respectively.
In a BSE filing, the mutual fund company said, “Standard Life Investments proposes to sell up to 60,00,000 equity shares (representing approximately 2.82 percent of the total issued and paid-up equity share capital of HDFC Asset Management Company) through an offer for sale issue on June 17-18”.
In case of oversubscription, the company has proposed to sell additional 60 lakh shares. So overall the company would sell 1.2 crore shares which is equivalent to 5.64% of total paid-up equity.
