Standard Life Aberdeen plc (LON: SLA) announced today that on Wednesday, 14 August 2019, SLMH06, a wholly owned subsidiary of the Company, sold 67,100,0001 shares in HDFC Life on the National Stock Exchange of India Limited and BSE Limited.
The Shares were sold at an average price of Rs 480.701 which will result in SLMH06 receiving approximately Rs 32.0bn (£374m2), net of taxes and expenses, from the sale.
The Shares sold constituted 3.33% of the paid-up, issued equity share capital of HDFC Life and SLMH06’s remaining shareholding in HDFC Life is now 19.69%, based on the paid-up, issued equity share capital. Based on the current share price of Rs 504.053, the value of Standard Life Aberdeen’s remaining shareholding would be approximately Rs 200bn (£2.3bn2).
1 Based on current trade data available, final contract amounts and price will be confirmed by the stock exchanges after market close on 14 August 2019
2 Based on INR|GBP exchange rate of 85.5
3 Based on HDFC Life share price on the National Stock Exchange of India at 10.20am IST on Wednesday, 14 August 2019.