HDFC Life, Birla Sun Life Insurance, and Bharti AXA Life Insurance are among the six best bidders HSBC has chosen to sell its 26% stake in the Indian life insurance joint venture with two state-run banks, said a person familiar with the development.
“HSBC has shortlisted six,” said the executive of a life insurance company not wanting to be identified. The fourth bidder is Manulife; the remaining two bidders are unknown.
HSBC and HDFC Life declined to comment.
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