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Standard Life Investment plans to sell 47.50 lakh shares, representing 2.23 per cent of the total paid-up equity of HDFC Asset Management Company. The stake-sale will take place through the offer-for-sale mechanism on the exchanges on Wednesday for institutions and on Thursday for retail investors.
The floor price has been fixed at ₹3,170 a share. Standard Life, one of the promoters, holds 29.94 per cent in HFDC Asset while overall promoter holding stands at 82.70 per cent.
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