HDFC Life seeks shareholders approval to share issue to Exide Industries

2021-09-08 00:50:59

New Delhi: Ltd (HDFC Life) will seek shareholders’ approval later this month for the issuance of preference shares to in the Rs 6,687-crore deal to acquire Exide Life, according to a regulatory filing. HDFC Life has convened an extra-ordinary general meeting (EGM) of the company’s shareholders on September 29 to seek their approval for share issue, the company said in a filing on Tuesday.

Last Friday, HDFC Life announced the deal to acquire 100 per cent stake, representing

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Exide Industries stock may be up for rerating after HDFC Life deal

2021-09-03 15:15:28

NEW DELHI: divesting its entire equity holding in Exide Life Insurance Company sent its share soaring on Friday.

Investec Securities says that investment in the non-related life insurance business was one of the major sticking points with investors in relation to Exide Industries.

“This issue seems to be now resolved and should lead to significant re-rating for the stock,” it said, adding that the proceeds would help Exide fund lithium-ion cell manufacturing.

The brokerage has set a target

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Exide Industries soars 14% after announcing deal with​​ HDFC Life

2021-09-03 11:01:39

New Delhi: Shares of rallied as much as 14 per cent in early trade on Friday as HDFC Life Insurance Company announced that it will acquire its life insurance business.

HDFC Life today announced acquisition of 100 per cent stake in Exide Life Insurance and its subsequent merger with HDFC Life for Rs 6,687 crore.

HDFC will issue 8,70,22,222 equity shares at an issue price of Rs 685 per share. The deal also involves cash payout of Rs

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Exide Industries Q1 results: Co posts consolidated PAT of Rs 32 cr

2021-07-30 23:23:26

New Delhi: on Friday posted a consolidated net profit of Rs 32 crore for the quarter ended June 30. The company had reported a consolidated net loss of Rs 14 crore in the April-June period of the previous fiscal.

Revenue from operations stood at Rs 3,543 crore during the quarter as against Rs 2,526 crore in Q1 FY20, Exide Industries said in a regulatory filing.

On a standalone basis, the company posted a net profit of Rs 125

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