HDFC Life to hold EGM on September 29 for proposed issuance of 8.70cr equity shares

The company has obtained an addendum (dated September 18, 2021) to the Valuation Report.

Sep 21, 2021 10:09 IST India Infoline News Service

HDFC Life Insurance Company Limited updated the exchanges in relation to the proposed issuance of 8,70,22,222 equity shares through a preferential issue to Exide Industries Limited at the forthcoming Extra-Ordinary General Meeting (EGM) of the shareholders of the company.

The EGM is scheduled to be held on September 29, 2021.

“The company had inter alia obtained a valuation report dated September 2, 2021, from Rashmi Shah and S. Sundararaman, Registered Valuers. Pursuant to clarifications sought by the National Stock Exchange of India Limited and BSE Limited, the company has obtained an addendum (dated September 18, 2021) to the Valuation Report, which inter alia sets out the values derived under different methods considered relevant by the Registered Valuer in its above referred Valuation Report."

The Audit Committee and the Board of Directors on September 19, 2021 have taken note of addendum to the Valuation Report and noted that no change is required to the issue price for the proposed preferential issue as proposed in the notice of the EGM,” the company said.

At around 10.18 am, HDFC Life Insurance Company Ltd was trading at Rs726.35 per piece down by Rs4.2 or 0.57% from its previous closing of Rs730.55 per piece on the BSE.

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