ABRDN has offloaded its entire stake in Indian asset manager HDFC and could be set to ramp up share buybacks as it looks to put cash in investors' pockets.

In a statement , the vowel-stripped investor said it had sold its remaining 10.2 per cent stake in HDFC Asset Management for £337m via a subsidiary firm.

Mumbai-based HDFC has plunged in value over the last four years after its all-time peak in 2019.

Abrdn first began offloading its stake in the company last year, dumping its six per cent stake for £225m.

A $40bn (£31.5bn) merger between HDFC's parent firm Housing Development Finance Corp and HDFC Bank is scheduled to close next month.

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