Promoter Abrdn sells entire stake in HDFC AMC for Rs 4,079 cr; Morgan Stanely, SBI MF among buyers

June 20, 2023

This follows the UK investor’s exit from private insurer HDFC Life, where it sold some INR2,000cr of shares in the pre-merger stake sale. HDFC AMC returned to shareholders nearly 123 times the cost of its pre-IPO investment, while its shares rallied almost 11.39% to INR2,108.05 on Tuesday.

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