Aberdeen sells entire 10% stake of HDFC AMC

Aberdeen floated 2.18 crore shares in the market and the price per share is quoted at Rs 1,873. 

Aberdeen Investment Management which is an asset management firm based in the UK has sold its entire stake of 10% in HDFC subsidiary HDFC Asset Management Company (AMC).

Aberdeen floated 2.18 crore shares in the market and the price per share is quoted at Rs 1,873.

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According to CNBC-TV 18 sources the buyers are not yet known but are expected to be a few high-net-worth individuals. It was reported on Monday that the UK-based firm will be selling its entire holdings in HDFC AMC with a floor price of Rs 1800 to Rs 1892 per share which was a 5% discount from the previous closing price.

In 2022, Aberdeen diluted its 5.58 per cent stakes in HDFC AMC for Rs 2,300 crore via Open Market Transaction.

On Monday, the shares of HDFC AMC saw a 1.3 percent decline, down in last three out of four trading sessions. The stocks closed below 1,900 for the first time since May 29 of this year.

Post the block deal in Tuesday’s trading the shares of HDFC AMC have touched a peak of Rs 2,060 and is fluctuating between Rs 2,003 and Rs 2,020 while this story is published.