Investment12 Mar 2026, 05:22 pm
Max Financial Services Ltd. to Raise ₹ 2,000 Crores via QIP, Increases Authorised Share Capital
AI Summary
Max Financial Services Ltd. has approved a proposal to raise funds up to ₹ 2,000 Crores through a qualified institutional placement (QIP) or other permissible modes. The funds will primarily support the business growth and expansion plans of its subsidiary, Axis Max Life Insurance Limited, with the remaining balance for general corporate purposes. The company also plans to increase its authorized share capital from ₹ 70,00,00,000 to ₹ 75,00,00,000 divided into 37,50,00,000 equity shares of face value ₹ 2 each. This decision is subject to necessary approvals, including shareholders' approval through a postal ballot process and other regulatory/statutory approvals.
Key Highlights
- Max Financial Services Ltd. to raise up to ₹ 2,000 Crores via QIP or other permissible modes
- Funds raised will support Axis Max Life Insurance Limited's business growth and general corporate purposes
- Authorized share capital to increase from ₹ 70,00,00,000 to ₹ 75,00,000 divided into 37,50,00,000 equity shares of face value ₹ 2 each
- Shareholders' approval required through a postal ballot process
- Subject to necessary approvals, including regulatory/statutory approvals