HDFC Life gets final approval from IRDAI for Exide Life merger

HDFC Life Insurance Company said that it has received the Insurance Regulatory and Development Authority of India's (IRDAI) final approval for its merger with Exide Life Insurance Company. HDFC Life had acquired a 100% stake in Exide Life from its parent Exide Industries after issuing over 8.7 crore shares at ₹685 per share and a cash payout of ₹726 crore.