HDFC Life Acquires $18.5M Stake in Motilal Oswal Financial Services via Block Deal

Deal Summary

HDFC Life Insurance Company purchased approximately 1.82 million shares of Motilal Oswal Financial Services from two promoter-linked charitable entities for a total consideration of about Rs 153 crore (≈$18.5 million). The sellers, Motilal Oswal Foundation and Motilal Oswal Healthcare Foundation, sold 14.55 lakh and 3.65 lakh shares respectively at Rs 842.5 (≈$10.15) per share. The block deal does not change the promoter group's controlling stake.