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Axis Bank buys 12.99% stake in Max Life, becomes co-promoter Max Financial Services Limited, the holding company of Max Life, and Axis Bank had first announced their intent to bring in the latter as a strategic partner in Max Life in February 2020. BusinessToday.In | April 6, 2021 | Updated 22:42 IST With this acquisition, Axis Entities have become co-promoters of Max Life. Axis Bank and its subsidiaries, Axis Capital Limited and Axis Securities Limited (together Axis Entities), have completed...

Axis Bank becomes a co-promoter of Max Life Posted On: 2021-04-06 10:17:41 (Time Zone: Arizona, USA) Axis Bank Limited ("Axis Bank"), Indias third largest private sector bank, together with its subsidiaries Axis Capital Limited and Axis Securities Limited (collectively referred to as "Axis Entities") have become the co-promoters of Max Life Insurance Company Limited ("Max Life"), after completion of the acquisition of 12.99 % stake collectively by the Axis Entities in Indias fourth largest...

IRDAI gave its formal approval for the acquisition of up to 12 per cent stake in Max Life Insurance by Axis Bank and its subsidiaries, Axis Capital & Axis Securities (together Axis Entities)

Axis Bank share rises 4% post IRDAI nod for stake buy, Max Financial hits new high Gaining for the second straight day, Axis Bank shares traded 3.11% away from 52 week high of Rs 800. The stock has touched a 52-week low of Rs 285 BusinessToday.In | February 25, 2021 | Updated 15:47 IST Axis Bank share has gained 17% in a month and 5% in one year. Year-to-date, the stock is up 24% Shares of Axis Bank traded 4% higher intraday in Thursdays volatile session after the company announced that Insura...

With the deal done, analysts see further rerating for Max Financial stock.

Shares of Axis Bank will be in focus. Max Life has received the formal approval from the Insurance Regulatory and Development Authority of India (IRDAI), which vide its letter dated 24th February 2021 has granted approval to the Axis Entities, as promoters of Max Life, to collectively acquire 12.002% of the equity share capital of Max Life, by way of transfer of equity shares of Max Life from Max Financial to the Axis Entities. Shares of Nureca will debut on bourses today, 25 February 2021. Th...

IRDAI gives nod to Axis-Max Life deal SECTIONS Last Updated: Feb 24, 2021, 09:21 PM IST Share Synopsis As per the proposed transaction, Axis Entities have the right to acquire up to 19% stake in Max Life, of which, Axis Bank proposes to acquire up to 9%, and Axis Capital Limited and Axis Securities Limited together propose to acquire up to 3% of the share capital of Max Life in the first leg of the transaction. Getty Images NSE The Insurance Regulatory and Development Authority of India (IRDAI)...

Key benchmark indices are trading firm in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 498.67 points or 0.98% at 51,280.36. The Nifty 50 index was up 166.10 points or 1.11% at 15,148.10. The Nifty regained the psychological 15,000 mark in opening trade. Upbeat Asian stocks boosted sentiment. The S&P BSE Mid-Cap index was up 0.97%. The S&P BSE Small-Cap index was up 0.86%. The market breadth, indicating the overall health of the ...

Read more about Market Wrap, Feb 25: Heres all that happened in the markets today on Business Standard. BSE Sensex settle the F&O series for the month of February at 51,039 levels, up 258 points or 0.5 per cent

The Insurance Regulatory and Development Authority of India (Irdai) has given its nod to Axis entities — Axis Bank and its subsidiaries — for acquiring up to 12 per cent stake in Max Life Insurance, paving the way for Axis firms to become a joint venture partner in the life insurance company. Axis Bank will acquire 9 per cent stake in the life insurance company while Axis Capital and Axis Securities will acquire another 3 per cent in the first leg of the transaction. Furthermore, Axis entit...