{"id":13801,"date":"2022-01-06T18:40:58","date_gmt":"2022-01-06T13:10:58","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-hdfc-life-exide-life\/"},"modified":"2022-01-06T18:40:58","modified_gmt":"2022-01-06T13:10:58","slug":"biz-hdfc-life-exide-life","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-hdfc-life-exide-life\/","title":{"rendered":"HDFC Life completes acquisition of Exide Life; to start merger soon"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3511385507\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Jan 6 (PTI) HDFC Life on Thursday announced the closure of the acquisition Exide Life deal, which will pave the way for increasing its presence in the south India market.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2767801951\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> The private sector insurer acquired a 100 per cent stake in Exide Life from its parent Exide Industries after issuing over 8.7 crore shares at an issue price of Rs 685 and a cash payout of Rs 726 crore, aggregating to Rs 6,687 crore.<\/p>\n<p> Exide Industries now holds a 4.1 per cent stake in HDFC Life.<\/p>\n<p> HDFC Life said the deal is closed subsequent to receiving all relevant regulatory approvals and it will soon initiate the merger of Exide Life with itself.<\/p><div class=\"trade-content_5\" id=\"trade-1866126957\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> Exide Life&#8217;s agency-based distribution model, a strong presence in south India and experience across tier-II and -III locations complement HDFC Life and will help expand its market and bolster its proprietary distribution, the life insurance company said in a statement.<\/p>\n<p> &#8220;We recognise that the life insurance market in India is multi-faceted, where one solution might not fit all.<\/p>\n<p> &#8220;Different distribution channels and a varied product mix help cater to different customer cohorts across the diverse Indian geography, and this acquisition is an important milestone towards our strategic objective of bringing more people into the fold of financial protection,&#8221; HDFC Life Managing Director and CEO Vibha Padalkar said.<\/p>\n<p> She also thanked the outgoing MD and CEO of Exide Life, Kshitij Jain, for his leadership in helping build Exide Life as a strong institution. PTI KPM  HRS hrs<\/p>\n<div class=\"trade-after-content\" id=\"trade-362582721\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Jan 6 (PTI) HDFC Life on Thursday announced the closure of the acquisition Exide Life deal, which will pave the way for increasing its presence in the south India market. The private sector insurer acquired a 100 per cent stake in Exide Life from its parent Exide Industries after issuing over 8.7 crore [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-13801","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>HDFC Life completes acquisition of Exide Life; to start merger soon - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-hdfc-life-exide-life\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HDFC Life completes acquisition of Exide Life; to start merger soon\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Jan 6 (PTI) HDFC Life on Thursday announced the closure of the acquisition Exide Life deal, which will pave the way for increasing its presence in the south India market. 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