Mumbai: Housing Development Finance Corporation (HDFC) has bought an extra 10 per cent stake in HDFC Asset Management Company (AMC) for a consideration of Rs 181.81 crore.

The India’s second biggest private sector lender has took over 24,90,939 equity shares of Rs 10 each of HDFC AMC, symbolizing 9.9% of its paid-up equity capital, from Standard Life Investments.

Accompanying the fresh acquirement, the corporation’s shareholding in HDFC AMC would swell to 60 per cent, whereas Standard Life Investments would hold the remaining 40 per cent.

HDFC and SLI remain HDFC Mutual Fund co-sponsors and are committed to the expansion and improvement of its asset management business.

HDFC AMC is the investment manager to HDFC Mutual Fund, and is the third biggest private sector mutual fund with equity assets constituting about 44 per cent of the total funds under management.

In early trading (11:25 am), HDFC shares remained up 1.9 per cent at Rs 2,505 on the Bombay Stock Exchange (BSE).