Proposed IPO of HDFC AMC

RNS Number : 8633U

Standard Life Aberdeen plc

17 July 2018

 

Standard Life Aberdeen plc ("the Company")

Proposed Initial Public Offering ("IPO") of our associate business, HDFC Asset Management Company Limited ("HDFC AMC")

The Company notes that Housing Development Finance Corporation Limited has today announced that in connection with the proposed IPO of 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 (being the floor price) to Rs.1,100 per equity share (being the cap price).

Based on the floor price and cap price of the approved price band, this would imply that Standard Life Investments Limited's current shareholding of 37.98% would be valued at between Rs.88.2bn (c.£970m¹) and Rs.88.6bn (c£975m¹).

The announcement also confirmed that the IPO of HDFC AMC will be open for subscription 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.

17 July 2018

¹ Based on INR|GBP exchange rate of 90.88

Enquiries:

Institutional Equity Investors Jakub Rosochowski Neil Longair	[phone]* [phone] [phone]* [phone]
Media Katy Hetherington	[phone]* [phone]
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LEI: OTMBS544NMO7GLCE7H90

Classification: 3.1. Additional regulated information required to be disclosed under the laws of a Member State

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