HDFC Life Insurance Company Limited announced that it will issue 35,794,824 equity shares at a price of INR 558.74 for total gross proceeds not exceeding INR 20,000,000,000 on July 29, 2022. The transaction will include participation from returning promoter Housing Development Finance Corporation Limited, currently holds 47.79% stake of the company. The transaction has been approved by the board of directors of the company.

The transaction is subject to approval of subject to approval of the shareholders, BSE Limited and the National Stock Exchange of India Limited. The investor cannot transfer the equity shares of the company during the 90 trading days preceding the closing. The company will issue securities on preferential basis.