HDFC sells 70 lakh shares in HDFC Life for Rs 73 cr

New Delhi, Jan 9: HDFC today said it has sold nearly 70 lakh shares in HDFC Life to Azim Premji Trust for Rs 73.31 crore. In December, HDFC Ltd, the holding company of HDFC Life, had sold over 1.89 crore shares to the Premji Trust for about Rs 198.99 crore.

"Housing Development Finance Corporation (HDFC) Ltd has now informed BSE that the Corporation has concluded the sale of balance 69,82,361 equity shares of HDFC Life," it said in a filing to the BSE.

The shares were sold at a price of Rs 105 per share (Rs 73.31 crore in total), it added.

Shares sold in two tranches represent 0.95 per cent of the total issued and paid-up equity capital of HDFC Life. HDFC Ltd now holds 71.42 per cent of the total issued and paid-up equity capital of HDFC Life. HDFC Ltd scrips closed at Rs 1,112.20 per share on BSE,down 1.01 per cent from its previous close.

PTI