Housing Development Finance Corporation (HDFC) has offloaded nearly 7 million shares in HDFC Life to Azim Premji Trust for Rs 73.31 crore. Shares sold in two tranches represent 0.95% of the total issued and paid-up equity capital of HDFC Life. HDFC now holds 71.42% of the total issued and paid-up equity capital of HDFC Life.
In December, HDFC, the holding company of HDFC Life, had sold over 18.9 million shares to the Premji Trust for about Rs 198.99 crore.
HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services.
