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HDFC Life - Exide Life Deal To Ramp Up Distribution, Product Mix; Boost Margin: KRChoksey

HDFC Life - Exide Life Deal To Ramp Up Distribution, Product Mix; Boost Margin: KRChoksey

Professional receives to fill an application forms in his office. (Photographer Sergio Dorantes /Bloomberg News)
Professional receives to fill an application forms in his office. (Photographer Sergio Dorantes /Bloomberg News)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

KRChoksey Research Report

HDFC Life Insurance Co. to acquire 100% stake in Exide Life Insurance Co. from Exide Industries Ltd. 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, aggregating to Rs 6,687 crore.

Issuance of 8,70,22,222 equity shares of face value of Rs 10 each of the company, on a preferential allotment basis at a price of Rs 685 per equity share (including a premium of Rs 675 per equity share) to Exide Industries as part consideration for acquisition of 100% of the shareholding of Exide Life ('proposed issue').

The process for merger of Exide Life into HDFC Life will be initiated on completion of the acquisition.

Click on the attachment to read the full report:

KRChoksey HDFC Life Insurance Event Update.pdf

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