EDINBURGH (dpa-AFX) - Standard Life Aberdeen plc. (SLA.L) noted that Housing Development Finance Corporation Limited has today announced that in connection with the proposed Initial Public Offering of HDFC Asset Management Company Limited or HDFC AMC, the Red Herring Prospectus filed by HDFC AMC with the Registrar of Companies, Mumbai, has been approved on 17 July 2018 and the price band for the IPO has been fixed at Rs.1,095 per equity share to Rs.1,100 per equity share.
Based on the floor price and cap price of the approved price band, it would imply that Standard Life Investments Limited's current shareholding of 37.98% would be valued at between Rs.88.2 billion or about 970 million pounds and Rs.88.6 billion or about 975 million pounds.
The announcement also confirmed that the IPO of HDFC AMC will be open for ubscription to Anchor Investors on Tuesday 24 July 2018, and to the public on Wednesday 25 July 2018 and shall close on Friday 27 July 2018.
Copyright RTT News/dpa-AFX