The offer price is set at 564.1-578.55 rupees ($7.11-$7.29) per share. Shares of HDFC Life closed at 578.55 rupees on Monday. At the low end of the price range, selling the shares would be worth $305 million.
Abrdn holds a 3.7% stake in HDFC Life, according to exchange data https://www.bseindia.com/corporates/shpPromoterNGroup.aspx?scripcd=540777&qtrid=114.00&QtrName=June%202022. Abrdn and HDFC Life did not immediately respond to Reuters requests for comment.
BofA Securities is the sole bookrunner for the transaction.
($1 = 79.3650 Indian rupees)