REG - Housing Dev Fin Corp - Update on the acquisition of stake - Apollo Munich

Housing Development FinanceAnnouncement

09/01/2020 11:40

RNS Number : 3231Z
Housing Development Fin. Corp. Ltd.
09 January 2020
 


Ref. No. SE/ 2019-20/285
 
January 9, 2020
 
BSE Limited                                                               National Stock Exchange of India Limited
P. J. Towers                                                                 Exchange Plaza, Plot No. C/1
Dalal Street                                                                  Bandra-Kurla Complex, Bandra (East)
Mumbai 400 001.                                                        Mumbai 400 051.
 
Kind Attn:    Sr. General Manager                            Kind Attn: Head - Listing
                    DCS - Listing Department
 
Dear Sirs,
           
Sub:     Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 - completion of acquisition of equity stake of Apollo Munich Health Insurance Company Limited
 
In furtherance to our communication dated June 19, 2019 and January 2, 2020, informing you about entering into agreements for acquiring up to 51.2% of the equity share capital of Apollo Munich Health Insurance Company Limited (Apollo Munich), grant of no objection by the Corporation to the proposed merger of Apollo Munich with HDFC ERGO General Insurance Company Limited (a subsidiary of the Corporation) and receipt of approvals from Reserve Bank of India (RBI), Insurance Regulatory and Development Authority of India (IRDAI), Competition Commission of India (CCI) towards the said acquisition.
 
In this connection, we wish to inform you that on an application made by Apollo Munich for change of name, the Registrar of Companies, Mumbai, has on January 8, 2020, approved the change of name of Apollo Munich Health Insurance Company Limited to 'HDFC ERGO Health Insurance Limited'.
 
We further wish to inform you that pursuant to the receipt of approvals from RBI, IRDAI and CCI, the Corporation has today i.e. on January 9, 2020, completed acquisition of 51.16% of the equity share capital of HDFC ERGO Health Insurance Limited (formerly Apollo Munich Health Insurance Company Limited) (HDFC ERGO Health) and accordingly it has become a subsidiary of the Corporation. Disclosure made by HDFC ERGO Health to stock exchange and a press release being issued in the above connection is enclosed.
 
As informed earlier, HDFC ERGO Health and HDFC ERGO General Insurance Company Limited (HDFC ERGO) would now take necessary steps of merger of HDFC ERGO Health with and into HDFC ERGO, subject to the approval of the National Company Law Tribunal, Mumbai.
 
You are requested to take note of the above and arrange to bring this to the notice of all concerned.
 
Thank you,
 
Yours faithfully,
For Housing Development Finance Corporation Ltd.
 
 
Ajay Agarwal
Company Secretary
 
Encl. a/a
 
cc:        London Stock Exchange
            10, Paternoster Square London EC4M 7LS     
 
http://www.rns-pdf.londonstockexchange.com/rns/3231Z_1-2020-1-9.pdf
 
http://www.rns-pdf.londonstockexchange.com/rns/3231Z_2-2020-1-9.pdf




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