HDFC Bank to invest Rs. 69.90 crores in Go Digit Life

HDFC Bank Limited (the "Bank") has executed definitive agreements on April 21, 2023 to invest an amount of up to Rs. 69.90 crores in Go Digit Life Insurance Limited ("Go Digit Life") in two tranches, subject to the terms and conditions set out in the definitive agreements. In accordance with the definitive agreements, the consideration to be paid for the acquisition of 9.94% in the equity share capital of Go Digit Life (by way of a share subscription) in the first tranche amounts to approximately Rs. 10.93 crores ("Initial Subscription"). The Bank, at its discretion, may elect to invest the remaining amount of up to Rs. 58.97 crores in the second tranche post completion of the Initial Subscription, in accordance with the definitive agreements.

Shares of HDFC Bank Limited was last trading in BSE at Rs. 1673.80 as compared to the previous close of Rs. 1672.00. The total number of shares traded during the day was 133438 in over 7765 trades.

The stock hit an intraday high of Rs. 1677.00 and intraday low of 1662.80. The net turnover during the day was Rs. 222744512.00.

Source : Equity Bulls

Keywords

HDFCBank INE040A01034 HDB Investment GoDigitLifeInsurance