The Insurance Regulatory and Development Authority of India (Irdai) has given its final clearance to the scheme of merger and transfer of life insurance business.
Atlas Life Sciences Private Limited is one of the leading manufacturers of Active Pharmaceutical Ingredients (API) and Bulk Drugs.
Hindustan is the leading partner with L&T sharing the work.
GPN proposes to increase its equity shares of FGLIC, in tranches, according to which GPN’s aggregate shareholding in FGLIC will stand increased from 49% to up to approximately 71%.
The acquisition will accelerate the scale-up of the proprietary channels, strengthen presence in South India and across tier 2 and tier 3 locations.
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