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What percentage of stake in Go Digit Life Insurance will be acquired by HDFC Bank?
9.944 percent
10.521 percent
12.793 percent
14.696 percent

Correct Answer : Option (A) - 9.944 percent

The country's largest private sector lender HDFC Bank on 25th August 2022 said it will invest in Go Digit Life Insurance Ltd, the general insurer backed by Canada-based Fairfax Group.

HDFC Bank said it has proposed an investment of between Rs 49.9-69.9 crore, in two tranches, by subscribing to equity shares of the company, for an equity stake of up to 9.944 percent of the paid-up equity share capital of the company.

The bank said it has entered into an indicative and non-binding term sheet with Go Digit Life Insurance.

The investment is subject to the execution of definitive agreements whose terms and conditions are to be mutually agreed upon, and fulfilment of other terms and conditions, the bank said..

Source : Cnbctv18

Published On : August 26, 2022
Category : Banking