HDFC Life - Merger Synergies To Play Out In Long Term: ICICI Direct
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.
ICICI Direct Report
HDFC Life Insurance Co. has proposed a merger with Exide Life Insurance Co.
Exide Life is currently owned by Exide Industries Ltd. (100% stake) and has an embedded value of Rs 2,711 crore and assets under management of Rs 18,780 crore as on June 2021.
The acquisition of Exide Life would be done through a cash payout of Rs 726 crore (mostly due to taxation impact, which Exide Industries has to pay) and a share consideration by allocating 8.7 crore shares at Rs 685 per share.
Merger with Exide Life will complement the overall HDFC Life business as Exide has good reach, customer base (over 11.9 lakh) and a strong foothold in southern India, especially in the tier-II and tier-III cities.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.