Investment5 Feb 2025, 01:44 am
Max Financial Services Ltd Subsidiary Axis Max Life Insurance to Raise INR 1300 Crore through NCDs
AI Summary
Max Financial Services Ltd, through its subsidiary Axis Max Life Insurance Limited, has approved a proposal to raise additional capital through issuance of Non-Convertible Debentures (NCDs) aggregating up to INR 1300 crore. The NCDs will be issued in the nature of subordinated debt instruments on a private placement basis in terms of SEBI and IRDAI regulations. The disclosure made by Axis Max Life to the National Stock Exchange of India is enclosed for record. The company also announced the approval of audited financial results for the quarter and nine months’ period ended on December 31, 2024.
Key Highlights
- Axis Max Life Insurance Limited to raise INR 1300 crore through NCDs
- NCDs to be issued in the nature of subordinated debt instruments
- Issuance to be done on a private placement basis
- Approval received from the Board of Directors of Axis Max Life Insurance Limited
- Disclosure made to the National Stock Exchange of India