HDFC AMC Block Deal likely to happen tomorrow

The Stocks of HDFC AMC slipped 1.3% lower today and have declined in the last three out of four trading sessions.

HDFC Asset Management Company could likely go in a Block Deal tomorrow.

CNBC Awaaz reported quoting sources, the street is anticipating a large block deal soon. The pricing in the block deal will be Rs 1800 to Rs 1892 per share which will be a 5% discount to the closing price.

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HDFC AMC’s Co promoter Aberdeen which is a UK-based Asset Management firm will be selling 2.18 crore shares tomorrow in the firm and many high-net-worth investors are eyeing the deal.

Bank of America is said to be the Broker in the deal

The Stocks of HDFC AMC slipped 1.3% lower today and have declined in the last three out of four trading sessions. Stocks of HDFC AMC slipped below Rs 1,900 for the first time since May 29 this year.