Exide Industries shines on getting CCI’s approval to fully acquire ING Vysya Life Insurance

Exide Industries Ltd. | Batteries | Automobiles | BSE: 500086 | NSE: EXIDEIND

22 Feb 2013 Evaluate

Exide Industries is currently trading at Rs 130.00, up by 0.80 points or 0.62% from its previous closing of Rs 129.20 on the BSE.

The scrip opened at Rs 129.00 and has touched a high and low of Rs 132.00 and Rs 129.00 respectively. So far 13207 shares were traded on the counter.

The BSE group 'A' stock of face value Re 1 has touched a 52 week high of Rs 166.30 on 19-Oct-2012 and a 52 week low of Rs 112.90 on 16-May-2012.

Last one week high and low of the scrip stood at Rs 133.35 and Rs 126.85 respectively. The current market cap of the company is Rs 10982.00 crore.

The promoters holding in the company stood at 45.99% while Institutions and Non-Institutions held 29.98% and 24.03% respectively.

Exide Industries has received approval from Fair trade regulator Competition Commission of India (CCI) for proposal to fully acquire ING Vysya Life Insurance Company. The company proposed to pay about Rs 550 crore for 50 per cent stake, thereby valuing ING Vysya Life at about Rs 1,100 crore.

At present, the company hold 50% stake in the life insurance company and planning to acquire remaining stake from ING International and the Indian shareholders. Currently, Netherland-based ING International holds 26 per cent stake in ING Life, while 24 per cent is held by certain Indian shareholders.

The battery maker had approached CCI for approval on January 29, 2013. The regulator observed that apart from their interest in ING Vysya Life Insurance, Exide and ING International are neither engaged in the life insurance business in India nor have any direct or indirect control over any other enterprise engaged in the life insurance business in India.

Exide Inds Share Price

399.55 -3.65 (-0.91%)

05-Jun-2026 16:59 View Price Chart

Peers

Company Name	CMP
Exide Inds	399.55
Amara Raja Energy	850.25
HBL Engineering	794.85
Eveready Inds. India	332.95
Indo-National	361.30
View more..

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