HDFC Life acquires Exide Life in deal worth Rs 6,687 crore
The 100% acquisition of Exide Life will be through issuance of 8,70,22,222 shares at an issue price of Rs 685 per share and a cash pay-out of Rs 726 crore. The entire process, including the acquisition and subsequent merger, is subject to obtaining the relevant regulatory approvals, HDFC Life said in a statement on Friday.
HDFC Bank could double technology spends: Macquarie Capital“Currently technology spends as a % of opex is around 8-9%, this in our view, will double to 18-20% if management is going to significantly increase investments and is in line with some global peers,” said Suresh Ganapathy, associate director, Macquarie Capital. “Cost/Income ratio may go up from current 36% to 39-40%.”
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