Deal Street

April 03, 2020

S&R Associates act in a Rs. 22.06 billion secondary market sale of equity shares


[ by Legal Era News Network ]

S&R-Associates

Standard Life (Mauritius Holdings) 2006 Limited sold 5 crore equity shares of the face value of Rs. 10 each of HDFC Life Insurance Company Limited on the BSE. The shares represented approximately 2.48% of the total issued and paid-up Equity Share capital of the HDFC Life Insurance.

The transaction was launched on the back of strong stock price performance amidst an extremely volatile environment.

As on 31 December 2019, Standard Life (Mauritius Holdings) 2006 held 14.73% stake in HDFC Life Insurance Company.

S&R Associates represented the broker in the Rs. 22.06 billion secondary market sale of the equity shares.

The S&R team was led by partners Sandip Bhagat and Juhi Singh and included associate Abhiroop A. Datta.

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