Exide Life Insurance Merger News. New delhi, jan 1 (pti) hdfc life insurance has completed the acquisition of exide life by allotting over 8.7 crore shares of the company to exide industries, the insurer said on saturday. 03 sep, 2021, 10.18 am ist
September 03, 2021 11:23 ist. Exide industries, which owns 50 per cent of ing vysya life insurance co, plans to buy the balance stake from the other shareholders,. On completion of the transaction, the process to merge.
The Process For The Merger Of Exide Life Into Hdfc Life Will Be Initiated Shortly.
Hdfc life to acquire 100% stake in exide life insurance from exide industries via issuance of 8,70,22,222shares at an issue price of rs. The process of merging exide life insurance into hdfc life insurance will be initiated on completion of the acquisition. Shareholding as on aug 31, 2021;
Hdfc Life Acquires Exide’s Insurance Arm For Rs 6,687 Crore.
Hdfc life (file photo) hdfc life on thursday announced the closure of the acquisition exide life deal, which will pave the way for increasing its presence in the south india market. Ltd has agreed to buy exide life insurance co. Hdfc life insurance has completed the acquisition of exide life by allotting over 8.7 crore shares of the company to exide industries, the insurer said on saturday.
Exide Life’s Agency Based Distribution Model, Strong Presence In South India And Experience Across Tier 2 And.
Hdfc life will acquire 100 per cent stake in exide life insurance from exide industries via issuance of 8,70,22,222 shares at an issue price of rs 685 per share and a cash payout of rs 726 crore. 03 sep, 2021, 10.18 am ist Hdfc life completed the acquisition of 100% stake in exide life from exide industries through issuance of 8,70,22,222 shares at an issue price of rs.
In This Newsletter We Will Try And Explain Why This Merger Has The Potential To Be A Good Deal.
The merger process of exide life into hdfc life will be initiated upon completion of the acquisition, the insurer said. The capital raising committee of the board has vide its resolution dated january 1, 2022, allotted 8,70,22,222 equity shares of the company to exide on a preferential basis, and the company. Upon completion of the transaction, exide life insurance is proposed to be merged into hdfc life insurance.
726 Crore, Aggregating To Rs.
We believe this merger can be good for both the parties involved. The company strictly adheres to the claim guidelines set by insurance regulatory board (irdai) and the services are iso 9001:2008 certified. The acquisition is set to be done in a deal worth rs 6,687 crore, making it the biggest insurance deal in the country.