Abrdn, formerly Standard Life, is set to sell 2 percent of its stake in private sector insurer HDFC Life Insurance through block trades on Tuesday. According to the term sheet, Abrdn (Mauritius Holdings) will acquire a block of 43 million shares of HDFC Life at Rs 564.1-Rs 578.55 per share. Shares of HDFC Life closed at Rs 580 each on Monday. The stake sale could fetch the UK-based financial institution at least Rs 2,425.6 crore. Promoter stake in HDFC Life stood at 51.2 per cent at the end of June 2022 quarter. Mortgage lender HDFC Ltd holds 47.79 percent and Abrdn 3.7 percent. HDFC Life recently allotted 37.5 million shares to HDFC on a preferential basis to raise Rs 2,000 crore. Currently, HDFC Life's promoter companies hold 52.3 per cent stake in the insurer, with HDFC holding 48.7 per cent and Abrdn (Mauritius Holdings) 3.7 per cent, according to the term sheet. After the block trade, Abrdn will hold 1.7 per cent stake in the company and the promoter company's stake will come down to 50.3 per cent. As per the norms of the insurance regulator, the minimum shareholding of the promoters/promoter group of the company should be maintained at 50 percent of the paid up equity capital of the company.