Standard Life Aberdeen (SLA) has banked £374m after trimming its stake in its Indian joint venture financial services company.
The sale of shares in HDFC Life has taken its stake in the business to just below 20% with the remaining shares held by the Edinburgh-headquartered company worth some £2.3bn.
Established in 2000 the Mumbai-based company listed on the National Stock Exchange of India last year.
Before the flotation SLA had held a stake of just under 38% in the joint venture company which is one of the largest mutual fund operations in India.
At the time of the listing, which was hugely oversubscribed, it cut its holding to around 30%.
