The 2-day offer for sale (OFS) is being triggered by Standard Life, which will be selling a 2.23% stake in HDFC AMC through the OFS route on 04 and 05 of December. The price of HDFC AMC dipped on the day of the OFS but even at these prices, Standard Life will realize close to Rs.1506 crore from the sale of shares. As on September 30, Standard Life had a 29.94% stake in HDFC AMC.

On day 1, the total bids have already crossed the offer. The total offer is for 59.27 lakh shares but bids have already been received for a total of 73.41 lakh shares. This will build up on Thursday and Standard Life could also exercise its green shoe option.