HDFC Bank to acquire 9.94% stake in Go Digit Life Insurance

HDFC Bank would invest in Go Digit Life Insurance Ltd, the general insurer backed by Canada-based Fairfax Group.

HDFC Bank has proposed an investment of between Rs 49.9-69.9 crore (two tranches) by subscribing to equity shares of the company for an equity stake of up to 9.944% of the paid-up equity share capital of the company. Recently, Go Digit General Insurance filed draft papers with SEBI to raise funds through an initial public offering (IPO).