Cyril Amarchand Mangaldas advises abrdn Group in Relation to Block Trade by Abrdn Plc in HDFC AMC



Mumbai, Maharashtra, New Delhi, Delhi, India:

Cyril Amarchand Mangaldas suggested Abrdn Investment Management Limited, a subsidiary of Abrdn Plc (previously generally known as Standard Life Aberdeen Plc), in relation to the block commerce by Abrdn Plc in HDFC Asset Management Company Limited (HDFC AMC). Abrdn Investment Management is without doubt one of the promoters of the HDFC AMC and had undertaken a number of rounds of secondary commerce of fairness shares of the HDFC AMC on the inventory change in the previous.
The Capital Markets Practice of Cyril Amarchand Mangaldas suggested abrdn Group on the transaction paperwork. The transaction workforce was led by Yash Ashar, Partner & Head – Capital Markets; and Abhinav Kumar, Partner; with assist from Parth Desai, Senior Associate.
Tax advisory was led by SR Patnaik, Partner; with help from Bipluv Jhingan, Principal Associate.
As part of the transaction, Abrdn Investment Management, undertook the sale by approach of a number of share gross sales on the screen-based buying and selling of BSE Limited and National Stock Exchange of India Limited for an mixture consideration of Rs 2,477 crores (approx.). The transaction concerned a sale of 12,800,000 fairness shares of the face worth of Rs. 5 every of HDFC AMC, representing 6.00% of the paid-up fairness share capital of HDFC AMC, by Abrdn Investment Management.
Other Parties and Advisors to the transaction included Jefferies India Private Limited (acted as Broker).
The mixture worth of the transaction is INR 2,477 crore (approx.).
The transaction was signed on August 15, 2022; and shutting on September 18, 2022.

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About Cyril Amarchand Mangaldas

Cyril Amarchand Mangaldas (cam) is India’s main legislation agency with a worldwide popularity of being trusted advisers to its shoppers. The Firm advises a big and numerous set of shoppers, together with home and overseas business enterprises, monetary establishments, personal fairness and enterprise capital funds, start-ups, authorities and regulatory our bodies. The Firm generalists, specialists and senior ex-regulators expertly information shoppers throughout a spectrum of transactions, sectors and rules. With 1000 attorneys and 160 Partners, the Firm is the biggest full-service legislation agency in India and places of work in key business centres at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City and likewise in Singapore.


The Firm just lately acquired “Innovation in Advancing Markets” award on the FT Innovative Lawyers Asia Pacific 2022 Awards and the “National Law Firm of the Year: India” award on the IFLR Asia Pacific 2022 awards ceremony. The Firm had gained “India Deal Firm of the Year” on the ALB India Awards and “Firm of the Year” on the IFLR1000 India Awards in 2021.

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Madhumita Paul (Dy. Chief Marketing Officer – Marketing & Communications), Cyril Amarchand Mangaldas, [email protected], +91-9833818006

Rahul Gossain (Head – Marketing Communications, and Delhi Region BD), Cyril Amarchand Mangaldas, [email protected], +91-9873154228

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