InvestorQ : With the completion of HDFC Life and Exide merger, what are the next steps?
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With the completion of HDFC Life and Exide merger, what are the next steps?

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Riya Dwivedi answered.
4 months ago
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Let me clarify that the merger process has not even started. HDFC Life has completed the process of acquisition of Exide Life Insurance and that includes all the regulatory approvals including from the IRDA, SEBI as well as the Competition Commission of India (CCI). This will make Exide Life a 100% subsidiary of HDFC Life and at the same time, it will also commence the process of full merger and absorption of Exide Life into HDFC Life.

As consideration for the deal, HDFC Life has already paid Rs.726 crore in cash apart from allotting 870.22 lakh shares of HDFC Life at Rs.685 per share. As a result of this stake, on completion of the deal, Exide Industries will holds 4.1% stake in HDFC Life. The total consideration that HDFC Life is paying for Exide life in cash and stock is approximately Rs.6,687 crore. Exide Life has a strong presence in South India and fits with HDFC plans.

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