Housing Development Finance Corporation has informed that the Board of Directors of HDFC Standard Life Insurance Company (HDFC Life), a material non listed subsidiary of the Corporation, at its meeting held on June 17, 2016, has approved entering into a confidentiality, exclusivity and standstill agreement to evaluate a proposal for a potential combination through a merger of Max Life Insurance Company and Max Financial Services with HDFC Life by way of a scheme of arrangement. A copy of the communication dated June 17, 2016 received from HDFC Life, together with the press release being issued by HDFC Life in this regard.
The above information is a part of company’s filings submitted to BSE.
