Indian bankers eye insurance sell-downs

摘要

India's equity capital markets bankers can look forward to share sales totalling Rsll6bn (US$1.53bn) if the Reserve Bank of India orders banks and non-bank financial companies to cut stakes in insurance companies to 50%. RBI took the first step last week when it instructed Housing Development Finance Corp to cut its stake in hdfc life insurance company to no more than 50% from 51.43% by December 16 2020.At current prices, a 1.43% stake in HDFC Life is worth Rs14bn. The shares are likely to be sold through a block or an offer for sale on local stock exchanges, bankers said.