- Sectors Banking / Insurance , Sales & Marketing
It is a joint venture between Housing Development Finance Corporation Ltd (HDFC), one of India’s leading housing finance institution and Standard Life Aberdeen PLC, leading well known provider of financial savings & investments services in the United Kingdom. On 14 August 2015 HDFC Ltd. entered into a share sale agreement with Standard Life to sell a 9.00% stake in HDFC Life to the latter. The transaction is subject to receipt of regulatory approvals. Post the completion of the above transaction, HDFC will hold 61.65% stake in HDFC Life and Standard Life’s stake will increase to 35.00%, with rest to be held by others.