HDFC Bank to buy stake in Go Digit Life Insurance

HDFC Bank has announced plans to invest up to ₹69.9 crore in Go Digit Life Insurance

and upon completion they will have 9% equity stake with the company’s general insurance arm -Go digit General Insurance Ltd.

which recently filed draft papers for its proposed IPO worth 1 250 crore (₹).

Go Digit Life, a digital life insurance firm based out of India is awaiting certificate registration from Irdai

The company recently obtained draft papers with the market regulator to raise around $5 billion through an initial public offering (IPO

HDFC Bank, one of India's largest private sector lenders has entered into an indicative and non-binding term sheet

The company proposes to carry out life insurance business in this country subject only necessary regulatory approvals

which can be expected by April 2018 when it is believed that all conditions will have been met including approval 

from Indian authorities on how they plan on operating within their own borders