HDFC Life Insurance coverage Firm mentioned that its board of administrators is scheduled to fulfill on Tuesday, 26 April 2022, to think about elevating of funds by means of issuance of non-convertible debentures within the nature of subordinated debt.
These funds are proposed to be raised to additional strengthen the money reserves of the corporate put up money payout as part-consideration for acquisition of Exide Life Insurance coverage Firm.
On the identical day, the board of the life insurer will contemplate and approve the audited standalone and consolidated monetary outcomes for the quarter and yr ended 31 March 2022, and suggest last dividend, if any, to the shareholders for FY 2021-22.
HDFC Life Insurance coverage Firm is a three way partnership between HDFC, India’s main housing finance establishment and Abrdn (Mauritius Holdings) 2006, a worldwide funding firm. HDFC Life is a number one long-term life insurance coverage options supplier in India, providing a variety of particular person and group insurance coverage options that meet numerous buyer wants equivalent to safety, pension, financial savings, funding, annuity and well being.
The non-public life insurer reported a 3.27% rise in standalone internet revenue to Rs 273.65 crore in Q3 FY22 as towards Rs 264.99 crore in Q3 FY21. Whole revenue fell 32.68% to Rs 14,222.22 crore in Q3 FY22 over Q3 FY21.
The scrip fell 2.20% to presently commerce at Rs 557.50 on the BSE.
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(This story has not been edited by Enterprise Commonplace employees and is auto-generated from a syndicated feed.)
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