In the past all M&A transactions have taken place at a price to embedded value of 3-3.5 embedded value post acquiring exide life insurance is around 32000.
when the market cap dips below 112000 cr start accumulating the company.
embedded value is the present value of all the future estimated profits on the policies currently written while accounting for the future policy payouts it is calculated by actuarians following the rules set up by IRDAI