HDFC Life Insurance Company Ltd.

HDFC Life Insurance Company has completed the acquisition of Exide Life Insurance Company (Exide Life). With this, Exide Life will operate as a wholly owned subsidiary of HDFC Life. Pursuant to the agreement, there was a cash pay-out of Rs 726 crore and 8,70,22,222 equity shares at an issue price of Rs 685 per share were allotted to Exide Industries. Exide Industries now holds 4.1% stake in HDFC Life. The process for merger of Exide Life into HDFC Life will be initiated shortly.

Exide Life’s agency based distribution model, strong presence in South India and experience across tier 2 and tier 3 locations complements HDFC Life and will help expand its market and bolster its proprietary distribution.

HDFC Life Insurance Company is one of the leading life insurance companies in India offering a range of individual and group insurance solutions that meet various customer needs such as Protection, Pension, Savings & Investment and Health, along with Children's and Women's Plan.