HDFC Life Acquires Exide Life in a Rs 6,687-crore Cash and Stock Deal

HDFC Life Insurance on Friday said that it is buying the life insurance unit of battery maker Exide Industries Ltd in a Rs 6,687 -crore deal. With the acquisition, HDFC Life Insurance is aiming to increase its customer base.  As part of the cash and stock deal, HDFC Life will issue 87 million shares to Exide Industries at 685 rupees per share and a cash payout of Rs 72.6 crore, HDFC Life said in a regulatory filing.

In the regulatory

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