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Edinburgh-based Abrdn Investment Management Ltd. has written to HDFC Asset Management Co. to seek approvals to sell its entire stake in the mutual fund house.
“…the Company is in receipt of letter from Abrdn Investment Management Ltd., one of the promoters holding 10.21% of the paid-up share capital of the company, intimating their intention to sell the entire stake in the Company subject to applicable regulatory provisions,” said HDFC AMC in an exchange filing on Tuesday.
In its letter dated Dec. 6, Abrdn said it wishes to place up to 2.11 crore shares, representing 9.9% of the total shareholding of HDFC AMC, with a single buyer at this time and offload the remaining 0.31% stake separately.
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