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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