Abrdn Plc, Edinburg-based finance and insurance company, is expected to offload 43 million shares in HDFC Life Insurance Company in the price band of Rs 564-578.5 per share, reported CNBC-TV18 quoting sources.
The channel further stated that the share sale is likely to happen through a block deal.
Abrdn plc, formerly Standard Life Aberdeen plc, is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. It is the active asset manager in the UK, with investments in equities, multi-asset, fixed income, liquidity, sovereign wealth funds, real estate and private markets.
In July 2021, the company changed its name from Standard Life Aberdeen to Abrdn.
HDFC Life Insurance Company is a life insurance provider with headquarters in Mumbai, and is promoted by HDFC and Abrdn.
HDFC Life reported its standalone net profit for the quarter ended June at Rs 365 crore, rising 21 percent on-year (YoY) from Rs 302 crore in the same quarter last year.
