Standard Life (Mauritius Holdings) will off-load 1.78% stake in HDFC Life Insurance Co for ₹1,404 crore beginning Friday. The sale will be undertaken in two slots -- non-retail investors on Friday and for retail investors next week. DSP Merril Lynch is the broker for the sale process on behalf of Standard Life. HDFC Life Insurance Company Limited (formerly known Standard Life Insurance Company Limited) is promoted by mortgage lender HDFC Ltd (51.48%) and Standard Life (Mauritius Holdings) 2006 Ltd (24.66%). Shares of HDFC Life closed 3.19% down at ₹417 apiece on the BSE.

Source: Mint May 02, 2019 12:56 UTC