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HDFC Bank gains on executing definitive agreements to invest Rs 69.90 crore in Go Digit Life Insurance

24 Apr 2023 Evaluate

HDFC Bank is currently trading at Rs. 1681.35, up by 7.55 points or 0.45% from its previous closing of Rs. 1673.80 on the BSE.

The scrip opened at Rs. 1675.20 and has touched a high and low of Rs. 1685.15 and Rs. 1675.00 respectively. So far 52999 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1715.85 on 17-Apr-2023 and a 52 week low of Rs. 1271.75 on 17-Jun-2022.

Last one week high and low of the scrip stood at Rs. 1715.85 and Rs. 1653.65 respectively. The current market cap of the company is Rs. 937197.46 crore.

The promoters holding in the company stood at 25.59%, while Institutions and Non-Institutions held 60.49% and 13.92% respectively.

HDFC Bank has executed definitive agreements on April 21, 2023 to invest an amount of up to Rs 69.90 crore in Go Digit Life Insurance in two tranches, subject to the terms and conditions set out in the definitive agreements.

In accordance with the definitive agreements, the consideration to be paid for the acquisition of 9.94% in the equity share capital of Go Digit Life (by way of a share subscription) in the first tranche amounts to approximately Rs 10.93 crore (Initial Subscription). The Bank, at its discretion, may elect to invest the remaining amount of up to Rs 58.97 crores in the second tranche post completion of the Initial Subscription, in accordance with the definitive agreements. Go Digit Life proposes to carry out life insurance business in India subject to grant of certificate of registration by the Insurance Regulatory and Development Authority of India (IRDAI).

HDFC Bank is one of India’s premier banks providing a wide range of financial products and services using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking.


HDFC Bank Share Price

799.90 4.40 (0.55%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
HDFC Bank 799.90
ICICI Bank 1347.50
Axis Bank 1359.15
Kotak Mahindra Bank 383.50
Indusind Bank 853.15
View more..

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