HDFC Life, India's leading private life insurer, has received approval from the IRDAI and CCI to acquire the entire share capital of Exide Life Insurance [4]. This stake was previously held by battery manufacturer Exide Industries.
Since 1 January 2022, Exide Life has operated as a wholly owned subsidiary of HDFC Life.
The transaction is worth 66.87 billion INR (896.24 million USD).
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[2] https://www.linkedin.com/shareArticle?url=https%3A%2F%2Fwww.atlas-mag.net%2Fen%2Farticle%2Fhdfc-life-completes-acquisition-of-exide-life-insurance&source=Atlas Magazine&mini=true
[3] https://www.atlas-mag.net/en/issue/atlas-magazine-n-187-january-2022
[4] https://www.atlas-mag.net/en/article/hdfc-life-acquires-exide-life-insurance