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April 06, 2021 × Axis Bank, along with its subsidiaries, Axis Capital and Axis Securities, has become the co-promoter of Max Life Insurance, after completion of the acquisition of 12.99 per cent stake by them. “The board of Max Life recorded the closure of the deal today,” the companies said in a statement on Tuesday. The transaction was completed after the Insurance Regulatory and Development Authority of India gave its formal approval in February this year. Max Life’s holding company Max Financial Services and Axis Bank had first announced their intent to bring in the latter as a str...

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"), India's 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 India's fourth largest private life insurance firm - Max Life. The Board of Max Life recorded the closure of the deal to...

Max Healthcare Institute rose 1.93% to Rs 205.85 after the company said it acquired 42.8% equity stake in Saket City Hospitals (SCHL) from Kayak Investments Holding.Before the transaction, Max Healthcare Institute held 57.2% and Kayak Investments Holding held the remaining 42.8% stake in Saket City Hospitals. Kayak held 51.94% stake in Max Healthcare as on 31 December 2020. Max Healthcare Institute purchased 1.26 crore equity shares, representing 42.8% of the equity share capital of SCHL from Kayak. Following the transaction, SCHL has become a wholly-owned subsidiary of the company with effe...

At issue price of Rs 195.40Max Healthcare Institute announced that the QIP Committee of the Board of Directors of the company at its meeting held on 10 March 2021 has approved the allotment of 6,14,12,482 equity shares of Rs 10 each to qualified institutional buyers at an issue price of Rs 195.40 per share (including a premium of Rs 185.40 per share) aggregating to Rs 1199.99 crore, pursuant to the issue. The Issue opened on 04 March 2021 and closed on 09 March 2021. Pursuant to the allotment of equity shares in terms of the issue, the paid-up equity share capital of the Company stands incre...

Read more about Max Healthcare Institute opens QIP issue on Business Standard. With floor price of Rs 195.40 per share