Question
GoDigit Life, the life insurance business of GoDigit
Insurance has raised equity funding from two major private sector lenders Axis Bank and HDFC Bank. How much stake are both banks going to acquire of the life insurance company?Solution
GoDigit Life, the life insurance business of GoDigit Insurance has raised equity funding from two major private sector lenders Axis Bank and HDFC Bank. Both banks have signed definitive agreements with GoDigit Life Insurance to invest around Rs 70 crore each over two tranches. The two banks have will acquire around 9.9% of the life insurance company, taking their total shareholding to almost 20%.
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