{"id":51525,"date":"2021-09-05T13:12:07","date_gmt":"2021-09-05T13:12:07","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=51525"},"modified":"2021-09-05T13:12:09","modified_gmt":"2021-09-05T13:12:09","slug":"hdfc-life-to-acquire-exide-life-insurance-for-%e2%82%b96687-crore","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/hdfc-life-to-acquire-exide-life-insurance-for-%e2%82%b96687-crore\/","title":{"rendered":"HDFC Life to acquire Exide Life Insurance for \u20b96,687 crore"},"content":{"rendered":"\n<p>India\u2019s largest private insurer HDFC Life Insurance on Friday announced that its board has approved acquisition of 100% of the share capital of Exide Life Insurance Company for a total consideration of \u20b96,687 crore. Shares of HDFC Life were trading over 3% lower on the BSE in Friday&#8217;s early deals whereas that of Exide Industries surged 10%.<\/p>\n\n\n\n<p><strong>HDFC Life<\/strong>&nbsp;has announced to acquire a&nbsp;<strong>100 per cent<\/strong>&nbsp;stake in Exide Life Insurance Company in a stock and cash deal, for&nbsp;<strong>Rs 6,887 crore.<\/strong>&nbsp;Subsequently, Exide Life will be merged with HDFC Life, subject to regulatory approvals. Exide Life is a wholly-owned subsidiary of battery maker Exide Industries. This acquisition will mark one of the first and the largest acquisitions in the life insurance space.<\/p>\n\n\n\n<p><strong>About the deal:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>From the total deal value of Rs 6,887 crore, HDFC Life will pay Rs 725 crore in cash, while the balance amount will be in form of shares.<\/li><li>HDFC Life will issue 87.02 million equity shares of the face value of Rs 10 at a price of Rs 685 per share to Exide Industries Limited.<\/li><li>Post the acquisition, Exide Industries will hold a 4.1 per cent stake in merged HDFC Life and mortgage lender HDFC Ltd will hold 47.9 per cent. Currently, HDFC Ltd. holds a 49.9 per cent stake in HDFC Life.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>India\u2019s largest private insurer HDFC Life Insurance on Friday announced that its board has approved acquisition of 100% of the share capital of Exide Life Insurance Company for a total consideration of \u20b96,687 crore. Shares of HDFC Life were trading over 3% lower on the BSE in Friday&#8217;s early deals whereas that of Exide Industries [&hellip;]<\/p>\n","protected":false},"author":894,"featured_media":51528,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1417],"tags":[1460],"class_list":["post-51525","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-september-2021","tag-hdfc"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/51525","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/894"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=51525"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/51525\/revisions"}],"predecessor-version":[{"id":51529,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/51525\/revisions\/51529"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/51528"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=51525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=51525"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=51525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}