HDFC Life Insurance Company Ltd to issue 3,57,94,824 shares to HDFC

The Board of Directors of HDFC Life Insurance Company Limited (the "Company") at their meeting held today i.e. Friday, July 29, 2022, has considered and approved the issuance of 3,57,94,824 equity shares of the Company on a preferential basis to Housing Development Finance Corporation Limited.

The board approved issuance of 3,57,94,824 equity shares of the Company having face value of Rs. 10 each, at a price of Rs. 558.74 (Rupees Five Hundred Fifty Eight and Seventy Four Paisa only) per equity share i.e. not exceeding Rs. 2000 crore in aggregate, on a preferential basis to Housing Development Finance Corporation Limited ("HDFC Ltd."), one of the promoters of the Company, subject to approval of the shareholders through postal ballot and such other regulatory/ statutory approvals as may be necessary.

Shares of HDFC Life Insurance Company Limited was last trading in BSE at Rs. 555.55 as compared to the previous close of Rs. 532.65. The total number of shares traded during the day was 616073 in over 19325 trades.

The stock hit an intraday high of Rs. 559.95 and intraday low of 534.15. The net turnover during the day was Rs. 336740624.00.

Source : Equity Bulls

Keywords

HDFCLifeInsuranceCompany INE795G01014 HDFCLIFE PreferentialIssue HDFC