HDFC provides update on subsidiary

Outcome of board meeting of HDFC Life on 17 June 2016

Housing Development Finance Corporation announced that the Board of Directors of HDFC Standard Life Insurance Company (HDFC Life), a material non listed subsidiary of the Corporation, at its meeting held on 17 June 2016, has approved entering into a confidentiality, exclusivity and standstill agreement to evaluate a proposal for a potential combination through a merger of Max Life Insurance Company and Max Financial Services with HDFC Life by way of a scheme of arrangement.

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