HDFC Life Insurance Company Benefits from Completion of Merger with Exide Life

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HDFC Life Insurance Co is currently trading at Rs. 523.85, up 0.95 points or 0.18% from its previous close of Rs. 522.90 on BSE.

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HDFC life insurance

The certificate opened at Rs. 523.00 and touched a high and a low of Rs. 526.00 and Rs. 518.90 respectively. So far, 1,132,058 shares have been traded over the counter.

BSE Group “A” stock of nominal value Rs. 10 touched a 52-week high of Rs. 725.00 on 15-Nov-2021 and a 52-week low of Rs. 497.30 on 08-Mar-2022.

Last week, the top and bottom of the certificate amounted to Rs. 534.70 and rupees. 518.05 respectively. The current market capitalization of the company is Rs. 112,591.59 crore.

Sponsors holding the company amounted to 51.52%, while institutions and non-institutions held 34.58% and 13.91% respectively.

HDFC Life Insurance Company has completed the merger with Exide Life. This marks the completion of the first-ever merger and acquisition (M&A) deal in the Indian life insurance industry. HDFC Life had completed the acquisition of Exide Life in January 2022.

Previously, HDFC Life received final approval from the Insurance Regulatory and Development Authority of India (IRDAI) to merge Exide Life Insurance Company into itself.

The entire transaction, from the announcement of the agreement in September 2021, followed by the acquisition in January 2022 and the eventual merger, was completed in less than 14 months.

HDFC Life Insurance Company is one of the leading life insurance companies in India offering a range of individual and group insurance solutions that cater to diverse customer needs such as protection, retirement, savings and investment and health, as well as the plan for children and women.

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