Investment1 Jun 2026, 08:12 pm
Max Financial: Axis Bank Invests ₹380.6 Cr in Axis Max Life
AI Summary
Max Financial Services Ltd. announced that Axis Bank has invested ₹380.6 crore in Axis Max Life Insurance Limited by subscribing to equity shares. The Share Allotment Committee approved the allotment of 2,50,56,200 fully paid-up equity shares to Axis Bank on June 1, 2026, at ₹151.90 per share. Following this allotment, Max Financial's shareholding in Axis Max Life has been reduced to approximately 80.01%.
Key Highlights
- Axis Bank invests ₹380.6 Cr in Axis Max Life via equity share subscription.
- 2,50,56,200 equity shares allotted to Axis Bank on June 1, 2026.
- Issue price is ₹151.90 per share, including a premium of ₹141.90.
- Max Financial's stake in Axis Max Life reduces to approximately 80.01%.