Exide Industries Ltd., currently owner of 50 percent of the equity capital of ING Vysya Life Insurance Co. Ltd. (IVL), has in principle decided to acquire the balance 50 percent of the equity capital of IVL (26 percent from ING Group, 16.32 percent from the Hemendra Kothari Group and 7.68 percent from the Enam Group) for an aggregate consideration of around Rs.550 crore, subject to regulatory approvals.
Post such acquisition, the company has in principle decided to identify and induct a new international player in the life insurance genre to infuse fresh equity into IVL, subject to regulatory approvals, for IVL's expansion plans.
At the BSE, Exide Industries closed Wednesday's trading at Rs.124.90, down 1.03 percent from the previous close.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.