<p>Standard Life Investments Ltd, one of the promoters of HDFC Asset Management Company, will offload 2.82 percent stake in the fund house through the offer-for-sale mechanism.</p>.<p>The stake sale will be conducted on the BSE and NSE on January 17 for no-retail investors and January 18 for retail investors.</p>.<p>In a regulatory filing to stock exchanges, Standard Life has proposed to sell up to 60 lakh equity shares, representing 2.82 percent of the total issued and paid-up equity share capital of HDFC AMC through an offer-for-sale mechanism.</p>.<p>Besides, there will be an option to additionally sell up to 60 lakh equity shares of the fund house in case the oversubscription option is exercised.</p>.<p>The floor price for the sale has been set at Rs 2,362 per equity share. At this price, the promoter will fetch Rs 1,417.2 crore.</p>.<p>Shares of HDFC AMC ended at Rs 2,537.65 apiece on Tuesday, down 2.48 percent.</p>.<p>The share-sale is being undertaken by the promoter for achieving the minimum public shareholding in the company as prescribed under markets regulator SEBI's norms.</p>.<p>HDFC AMC operates as a joint venture between Housing Development Finance Corporation (HDFC) and Standard Life Investments.</p>.<p>Standard Life had sold 47.5 lakh equity shares, representing 2.23 percent stake, of HDFC AMC through offer-for-sale in December last year.</p>.<p>As of March this year, Standard Life held 26.89 per cent stake in the mutual fund house, while HDFC owned 52.72 per cent.</p>.<p>In July 2018, HDFC AMC had hit the capital markets to raise an estimated Rs 2,800 crore through an initial public offering.</p>
<p>Standard Life Investments Ltd, one of the promoters of HDFC Asset Management Company, will offload 2.82 percent stake in the fund house through the offer-for-sale mechanism.</p>.<p>The stake sale will be conducted on the BSE and NSE on January 17 for no-retail investors and January 18 for retail investors.</p>.<p>In a regulatory filing to stock exchanges, Standard Life has proposed to sell up to 60 lakh equity shares, representing 2.82 percent of the total issued and paid-up equity share capital of HDFC AMC through an offer-for-sale mechanism.</p>.<p>Besides, there will be an option to additionally sell up to 60 lakh equity shares of the fund house in case the oversubscription option is exercised.</p>.<p>The floor price for the sale has been set at Rs 2,362 per equity share. At this price, the promoter will fetch Rs 1,417.2 crore.</p>.<p>Shares of HDFC AMC ended at Rs 2,537.65 apiece on Tuesday, down 2.48 percent.</p>.<p>The share-sale is being undertaken by the promoter for achieving the minimum public shareholding in the company as prescribed under markets regulator SEBI's norms.</p>.<p>HDFC AMC operates as a joint venture between Housing Development Finance Corporation (HDFC) and Standard Life Investments.</p>.<p>Standard Life had sold 47.5 lakh equity shares, representing 2.23 percent stake, of HDFC AMC through offer-for-sale in December last year.</p>.<p>As of March this year, Standard Life held 26.89 per cent stake in the mutual fund house, while HDFC owned 52.72 per cent.</p>.<p>In July 2018, HDFC AMC had hit the capital markets to raise an estimated Rs 2,800 crore through an initial public offering.</p>