HDFC Bank to invest in the life insurance business of IPO-bound Go Digit General Insurance

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HDFC Bank announced that it will invest in the life insurance business of IPO-bound Go Digit General Insurance. Go Digit Life Insurance has signed a ‘indicative and non-binding’ term sheet with the country’s largest private sector bank.

The banking major will invest INR 49.9 Cr to INR 69.9 Cr in two tranches in Go Digit Life Insurance for an equity stake of up to 9.94%, subject to other terms and conditions being met. This comes less than a week after Go Digit General Insurance submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI). The Virat Kohli-backed startup intends to raise INR 1,250 crore in new equity and will also solicit 109.45 million shares from existing shareholders.

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HDFC Bank to invest in the life insurance business of IPO-bound Go Digit General Insurance

HDFC Bank announced that it will invest in the life insurance business of IPO-bound Go Digit General Insurance. Go Digit Life Insurance has signed a ‘indicative and non-binding’ term sheet with the country’s largest private sector bank.

The banking major will invest INR 49.9 Cr to INR 69.9 Cr in two tranches in Go Digit Life Insurance for an equity stake of up to 9.94%, subject to other terms and conditions being met. This comes less than a week after Go Digit General Insurance submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI). The Virat Kohli-backed startup intends to raise INR 1,250 crore in new equity and will also solicit 109.45 million shares from existing shareholders.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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