HDFC Bank Ltd to subscribe for up to 9.944% stake in Go Digit Life Insurance Ltd

HDFC Bank Limited ("HDFC Bank") on August 24, 2022 has entered into an indicative and non-binding term sheet with Go Digit Life Insurance Limited ("Company") which summarizes the principal terms of a proposed investment, by HDFC Bank in the Company, of an amount between INR 49.9 crores to INR 69.9 crores, in two tranches, by subscribing to equity shares of the Company, for an equity stake of up to 9.944% of the paid up equity share capital of the Company, subject to execution of definitive agreements whose terms and conditions are to be mutually agreed upon, and fulfilment of other terms and conditions. The Company proposes to carry out life insurance business in India, subject to grant of certificate of registration by Insurance Regulatory and Development Authority of India.

Shares of HDFC Bank Limited was last trading in BSE at Rs. 1463.85 as compared to the previous close of Rs. 1471.30. The total number of shares traded during the day was 147945 in over 5354 trades.

The stock hit an intraday high of Rs. 1486.60 and intraday low of 1459.00. The net turnover during the day was Rs. 219246811.00.

Source : Equity Bulls

Keywords

HDFCBank INE040A01034 HDB Investment GoDigitLifeInsurance