Standard Life will sell its 1.78% stake in HDFC Life Insurance The Standard Life (Mauritius Holdings) will sell its stake of 1.78% in HDFC Life Insurance Company for Rs 1,404 crore. The sale process will happen in two slots, first for non-retail investors and second for retail investors. The reason behind this move is to achieve the minimum public shareholding in the company as per Securities and Exchange Board of India (SEBI) regulations. Key Highlights i. The Standard Life (Mauritius Holdings) proposed to sell up to 3,60,00,000 equity shares (1.78% stake) at a floor price of Rs 390 per equity share and DSP Merril Lynch will be the broker for the sale process on behalf of Standard Life (Mauritius Holdings). ii. The sale process was done through offer for sale (OFS) route. About HDFC Life Insurance ♦ Headquarter: Mumbai ♦ CEO: Vibha Padalkar