report

HDFC Asset Management

19/06/2023 14:51

BENGALURU, June 19 (Reuters) - British asset manager
abrdn plc  ABDN.L  is to sell shares in HDFC Asset Management
Company Ltd  HDFA.NS  worth up to 41.26 billion rupees ($503.5
million), Indian business news channel CNBC-TV18 said in a
Twitter post, citing sources.
    The sale of shares will likely be done at a price range of
1,800 rupees to 1,892.45 rupees per share through block deals,
the report added. 
    The lower end of the price range represents a discount of
4.9% from HDFC AMC's closing price on Monday.  
    HDFC Asset Management Company and abrdn did not immediately
respond to requests for comments from Reuters. 
    ($1 = 81.9435 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru; Editing by Jan Harvey)
 ((Manvi.Pant@thomsonreuters.com;))