Axis Bank plans to acquire additional equity in Max Life Insurance, raising its stake to 19.99%.
Axis Bank plans to increase its stake in Max Life Insurance by acquiring additional equity worth Rs 336 crore, raising the aggregate shareholding of Axis entities in Max Life Insurance to 19.99%. This move follows Axis Bank's infusion of Rs 1,612 crore into Max Life in August 2022, increasing its direct stake to 16.22%. The acquisition is subject to regulatory approvals and is expected to be completed within 2-3 months.
June 19, 2024
9 Articles