We acted as the Indian legal and tax counsel to abrdn Investment Trusts (Mauritius Holdings) 2006 Limited (a subsidiary of abrdn Plc) (“Seller”) with respect to the sale of equity shares of HDFC Life Insurance Company Limited (“Company”), undertaken on the floor of the stock exchanges. The Seller is one of the promoters of the Company and has undertaken several rounds of secondary trade of equity shares of the Company on the floor of the stock exchanges in the past.
The Seller has sold its entire stake of 35,694,105 equity shares of the Company, representing approximately 1.66% of the total issued and paid-up equity share capital of the Company, by way of one or more share sales on the screen-based trading of BSE Limited on May 31, 2023 for an aggregate consideration of Rs. 2,047 crore (approx).
