ABRDN Investment Management: The entire stake that the British company ABRDN Investment Management Company holds in HDFC AMC will be sold. Out of which a 9.9% share is intended to be sold to just one buyer.
There is significant news regarding HDFC Asset Management Company. One of the HDFC AMC promoters, ABRDN Investment Management, intends to sell all of its stock in the business. This percentage has been 10.21%.
Messages communicated to stock markets
According to media sources, HDFC AMC has informed the stock exchanges that Abrdn Investment Management would no longer serve as a co-sponsor of the business following the sale of this stake.
According to HDFC AMC, this UK-based investment firm will sell its 9.9% ownership, or 2,11,18,578 shares, to just one buyer. The remaining portion will be offered for sale separately. Standard Life Investments used to be the name of ABRDN Investment Management.
It is a joint venture, HDFC AMC.
ABRDN Investment Management had earlier in August decreased its position in HDFC AMC by roughly 5.58 percent. According to what is being said, it received roughly Rs 2,300 crore from its share.
Jointly operated by the Housing Development Finance Corporation (HDFC) and BRDN Invest Management Company, HDFC AMC is currently in operation.
Shares dropped
On December 6, 2022, HDFC AMC shares on the National Stock Exchange (NSE) closed at Rs 457.00, an increase of 0. 15%. In the past six months, the company’s shares have increased by around 4.85 percent.
Its stock price has dropped by around 11.20 percent since the start of this year. On December 6, shares of HDFC AMC Ltd closed at Rs 2,190.
The launch of this fund
Only one month ago, HDFC AMC introduced the HDFC Business Cycle Fund. According to HDFC AMC, the HDFC Business Cycle Fund strives to provide greater returns by investing in businesses that are set to enter the down cycle of business, much like GPS helps us choose better routes to get to our destination faster.
Read More: Mirabai Chanu Creates History by Winning Silver at World Championship
|
|
  Facebook Page |
         Click Here |
|  Twitter       |
          Click Here |
| Â Instagram |
         Click Here |
| Â Google News |
         Click Here |
