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February 6, 2024
Max Financial Services has received approval from the Insurance Regulatory and Development Authority of India (IRDAI) for a capital infusion of Rs 1,612 crore by Axis Bank into its subsidiary, Max Life Insurance. The deal will involve the issue of 14,25,79,161 equity shares. Max Life plans to use the capital infusion to support future growth and improve solvency margins.
August 25, 2023
Axis Bank has acquired an additional 6.23% stake in Max Life by making an infusion of ₹1,612 crores.
August 10, 2023
Axis Bank stock has given a return of 9.31 percent over the last six months.
August 10, 2023
India's Axis Bank said it will raise its stake in insurer Max Life to 16.2% from 9.99% by infusing 16.12 billion rupees.
August 10, 2023
Axis Bank to increase stake in Max Life to 16.22% by infusing ₹1,612 crore through preferential allotment of shares
August 9, 2023
Axis Bank along with its entities acquired a 12.99% stake in Max Life in 2021, and through this new investment they will own 19.02% in the insurer
August 9, 2023
The bank said the acquisition would strengthen its position in life insurance business
August 9, 2023
India's Axis Bank on Wednesday said it will raise its stake in insurer Max Life to 16.2% from 9.99% by infusing 16.12 billion rupees ($194.6 ......
August 9, 2023
Indias Axis Bank on Wednesday said it will raise its stake in insurer Max Life to 16.2% from 9.99% by infusing 16.12 billion rupees through a preferential allotment of shares. ...
August 9, 2023
The bank will enter into a share subscription agreement to acquire 14,25,79,161 shares of Max Life on a preferential basis at a fair market value of Rs 113.06 a share.