Exide Industries gets nod to divest entire stake in Exide Life Insurance Company
3rd Sep 2021

Exide Industries has received approval for divestment of the Company's entire equity shareholding in Exide Life Insurance Company, a material wholly owned subsidiary of the Company, by way of sale to HDFC Life Insurance Company. The total investment of the Company in Exide Life, a material wholly owned subsidiary of the Company, as on date is Rs 1679.59 crore.

Exide Industries was incorporated in January 1947 as Associated Battery Makers to purchase all or any of the assets of the business of manufacturers, buyers and sellers of and dealers in and repairers of electrical and chemical appliances and goods carried on by the Chloride Electric Storage Company.