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India: Axis Bank becomes co-promoter of Max Life, to own 12.9% stake Photo: Pixabay April 7, 2021 Axis Bank Ltd on Tuesday said that it has become co-promoters of Max Life Insurance Company Limited, after completion of the acquisition of 12.99% stake collectively by the Axis Entities in the company. “The Board of Max Life recorded the closure of the deal today. The transaction was completed after the Insurance Regulatory and Development Authority of India (IRDAI) gave its formal approval in February this year,” the private lender said in a regulatory filing. Max Life’s holding company M...

Explore Now NEW DELHI: Nifty futures on the Singapore Exchange signal a flat start ahead of the outcome of the RBI's bi-monthly policy review on Wednesday. Here are a few stocks that may buzz during the day: Tata Steel: Domestic steel giant Tata Steel on Tuesday said its consolidated steel production remained almost flat at 7.4 million tonnes (MT) in the quarter ended March 31, 2021. Axis Bank: Diversified Max Group has sold a 13 per cent stake in Max Life Insurance Company to the country's third largest private sector lender, Axis Bank, which will now be a co-promoter of the insurer. Relian...

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 acquisition of 12.99 per cent stake in Max Life Insurance Company Ltd. With this acquisition, Axis...

Diversified Max Group has sold a 13 per cent stake in Max Life Insurance Company to the country's third largest private sector lender Axis Bank, which will now be a co-promoter of the insurer. The completion of the deal comes more than a year after Max Financial Services and Axis Bank announced their intent to have a strategic partnership for the former's insurance venture. Financial details were not disclosed. Max Financial Services -- the holding company of Max Life -- has offloaded 12.99 per cent stake in the insurer to Axis Bank and its subsidiaries -- Axis Capital and Axis Securities...

After long wait, Max Group sells 13% stake in life insurer Max Life to Axis Bank Top Searches After long wait, Max Group sells 13% stake in life insurer Max Life to Axis Bank PTI / Apr 6, 2021, 21:44 IST FacebookTwitterLinkedinEMail Up Next NEW DELHI/MUMBAI: Diversified Max Group has sold a 13 per cent stake in Max Life Insurance Company to the country's third largest private sector lender Axis Bank, which will now be a co-promoter of the insurer. The completion of the deal comes more than a year after Max Financial Services and Axis Bank announced their intent to have a strategic partnersh...