Investment12 Mar 2026, 05:22 pm
Max Financial Services Ltd. Approves Fund Raising of up to ₹ 2,000 Crores for Business Growth and Expansion
AI Summary
Max Financial Services Ltd. has announced its decision to raise funds by issuing fully paid-up equity shares, other equity-based instruments or securities. The total amount, inclusive of any premium, will not exceed ₹ 2,000 Crores. The primary use of these funds is to support the business growth and expansion plans of its material subsidiary company, Axis Max Life Insurance Limited. The company also plans to increase its authorized share capital and seek approval from shareholders for the issuance through a postal ballot process.
Key Highlights
- Max Financial Services Ltd. to raise up to ₹ 2,000 Crores through equity shares or other securities
- Funds will primarily support the business growth and expansion plans of Axis Max Life Insurance Limited
- Company to increase its authorized share capital to ₹ 75,00,00,000 divided into 37,50,00,000 Equity Shares
- Shareholders' approval will be sought for the issuance through a postal ballot process
- Trading window for dealing in shares of the Company to re-open post completion of 48 hours from this intimation