HDFC Life Insurance Company Limited disclosed plans to issue 1,45,23,906 equity shares to promoter HDFC Bank Limited on preferential basis. Post-issue, the fully diluted equity share capital will be 2,18,39,50,540 shares, with HDFC Bank's shareholding rising to 50.27%. The announcement was made to stock exchanges on April 23, 2026, under SEBI Regulation 30.

HDFC Life Insurance Company Limited Announces Preferential Issue of Equity Shares to HDFC Bank Limited

HDFC Life Insurance Company Limited has submitted a disclosure to the National Stock Exchange of India Limited and BSE Limited regarding the preferential issue of equity shares to its promoter, HDFC Bank Limited. The announcement, dated April 23, 2026, was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company proposes to issue 1,45,23,906 equity shares on a preferential and private placement basis to HDFC Bank Limited. This disclosure follows the Notice of Postal Ballot issued to members on April 16, 2026, which contained details about the shareholding pattern before and after the proposed issue.

Shareholding Details Post-Issue

Upon completion of the preferential issue, the total number of equity shares of the company on a fully diluted basis will reach 2,18,39,50,540 as of the date of the Notice dispatch. Based on this fully diluted equity share capital, HDFC Bank Limited's shareholding in the company will increase to 50.27%.

Parameter Details Number of equity shares to be issued 1,45,23,906 Total fully diluted equity shares post-issue 2,18,39,50,540 HDFC Bank Limited shareholding post-issue 50.27% Date of Notice dispatch April 16, 2026 Date of disclosure April 23, 2026

The disclosure was made pursuant to suggestions received from the stock exchanges in connection with the company's in-principle application for the preferential issue. The company's shares are listed on NSE under the symbol HDFCLIFE and on BSE with security code 540777.

HDFC Life Insurance Company Limited announced its audited standalone and consolidated financial results for Q4FY26 and the year ended March 31, 2026, during a board meeting held on April 16, 2026. The company has recommended a final dividend of ₹2.10 per equity share and approved a ₹1,000 crore preferential equity share issue to HDFC Bank Limited.

Board Meeting Outcomes and Financial Results

The Board of Directors approved multiple significant decisions during their meeting on April 16, 2026, which commenced at 1:30 PM and concluded at 4:00 PM IST. The audited standalone and consolidated financial results for Q4FY26 received unmodified audit opinions from joint statutory auditors M/s G. M. Kapadia & Co. and M/s BSR & Co. LLP, Chartered Accountants.

Parameter: Details Board Meeting Date: April 16, 2026 Meeting Duration: 1:30 PM to 4:00 PM IST Audit Opinion: Unmodified Joint Auditors: G. M. Kapadia & Co. and BSR & Co. LLP IEV Reviewer: Milliman Advisors LLP

Final Dividend Declaration

The board recommended a final dividend of ₹2.10 per equity share of face value ₹10 each for the financial year 2025-26, subject to shareholder approval at the Annual General Meeting scheduled for July 16, 2026. The dividend payment will be made on or after July 20, 2026, subject to tax deduction at source at applicable rates.

Parameter: Details Final Dividend: ₹2.10 per share Face Value: ₹10 each Record Date: June 19, 2026 Payment Date: On or after July 20, 2026 AGM Date: July 16, 2026

Preferential Share Issue to HDFC Bank

The board approved the issuance of 1,45,23,906 equity shares to HDFC Bank Limited on a preferential basis at ₹688.52 per share, aggregating to ₹1,000 crore. This transaction will increase HDFC Bank's shareholding from 50.21% to 50.54%. The relevant date for determining the floor price under SEBI ICDR Regulations is April 16, 2026.

Parameter: Details Investment Amount: ₹1,000 crore Number of Shares: 1,45,23,906 Issue Price: ₹688.52 per share Current HDFC Bank Holding: 50.21% Post-Investment Holding: 50.54% Relevant Date: April 16, 2026

Leadership Reappointment

The board approved the reappointment of Mr. Niraj Shah as Executive Director & Chief Financial Officer for a five-year term beginning April 26, 2026. Mr. Shah has been associated with HDFC Life since February 2019, overseeing Finance, Product development, and Process excellence. He brings over two decades of experience in financial services, including previous roles with PNB MetLife, ICICI Prudential Life, EY, and BNP Paribas.

Parameter: Details Executive: Mr. Niraj Shah Position: Executive Director & CFO Term Duration: 5 years Effective Date: April 26, 2026 Experience: Over 20 years in financial services

Embedded Value Performance

HDFC Life's Indian Embedded Value reached ₹62,139 crore as of March 31, 2026, demonstrating strong business performance. The company achieved an Annualised Premium Equivalent of ₹16,641 crore and Value of New Business of ₹4,034 crore with a New Business Margin of 24.20%. The embedded value results were reviewed by Milliman Advisors LLP following APS 10 methodology.

Metric: FY 2026 Annualised Premium Equivalent: ₹16,641 crore Value of New Business: ₹4,034 crore New Business Margin: 24.20% Indian Embedded Value: ₹62,139 crore

Regulatory Compliance and Next Steps

The preferential share issuance requires shareholder approval through postal ballot and regulatory approvals from the Reserve Bank of India and Insurance Regulatory and Development Authority of India. The company will conduct its 26th Annual General Meeting on July 16, 2026, through video-conferencing, with detailed AGM notice to be issued in due course.

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