HDFC Life Insurance Company gains on completing Exide Life merger

HDFC Life Insurance Co is currently trading at Rs. 523.85, up by 0.95 points or 0.18% from its previous closing of Rs. 522.90 on the BSE.

HDFC Life Insurance
HDFC Life Insurance

The scrip opened at Rs. 523.00 and has touched a high and low of Rs. 526.00 and Rs. 518.90 respectively. So far 1132058 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 725.00 on 15-Nov-2021 and a 52 week low of Rs. 497.30 on 08-Mar-2022.

Last one week high and low of the scrip stood at Rs. 534.70 and Rs. 518.05 respectively. The current market cap of the company is Rs. 112591.59 crore.

The promoters holding in the company stood at 51.52%, while Institutions and Non-Institutions held 34.58% and 13.91% respectively.

HDFC Life Insurance Company has completed Exide Life merger. This marks the completion of the first-ever merger and acquisition (M&A) transaction in the Indian life insurance sector. HDFC Life had completed the acquisition of Exide Life in January 2022.

Earlier, HDFC Life had received final approval from The Insurance Regulatory and Development Authority of India (IRDAI) to merge Exide Life Insurance Company with itself.

The entire transaction from announcement of the deal in September 2021 followed by the acquisition in January 2022 and the eventual merger was completed in less than 14 months.

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.

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