HDFC Bank Ltd.

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.