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India: Axis Bank becomes co-promoter of Max Life, to own 12 9% stake

India: Axis Bank becomes co-promoter of Max Life, to own 12.9% stake Photo: Pixabay April 7, 2021 Axis Bank Ltd on Tuesday said that it has become co-promoters of Max Life Insurance Company Limited, after completion of the acquisition of 12.99% stake collectively by the Axis Entities in the company. “The Board of Max Life recorded the closure of the deal today. The transaction was completed after the Insurance Regulatory and Development Authority of India (IRDAI) gave its formal approval in February this year,” the private lender said in a regulatory filing. Max Life’s holding company Max Financial Services Limited and Axis Bank had first announced their intent to bring in the latter as a strategic partner in Max Life in February 2020. Axis Bank had announced its intent to purchase a 30% stake in Max Life Insurance for a sum of around Rs. 1530 crore in April last year

Cyril Amarchand Mangaldas

Cyril Amarchand Mangaldas
pakistantelegraph.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pakistantelegraph.com Daily Mail and Mail on Sunday newspapers.

Markets likely to witness lacklustre trade; eyes RBI s monetary policy

Markets likely to witness lacklustre trade; eyes RBI’s monetary policy April 07, 2021 × Stocks to watch out for today: Barbeque-Nation, RIL, Cholamandalam Investment, Axis Bank, M&M and Concord Drugs Markets are likely to witness another lacklustre trading on Wednesday, even as the Reserve Bank will unveil its monetary policy in the afternoon. However, global stocks continue to unsupportive of bulls, with the US and some Asian markets being listless. SGX Nifty at 14,760 (8 am IST) indicates a flat opening, as Nifty futures on Tuesday closed at 14,750. While Dow Jones, Nasdaq and S&P 500 closed marginally lower overnight, Asian markets such as Japan s Nikkei, China s Shanghai, Australia s ASX and Korea s Kospi were little changed in the morning.

Cyril Amarchand Mangaldas advises on acquisition of 12 99 per cent stake in Max Life Insurance collectively by Axis Bank, Axis Securities and Axis Capital

Cyril Amarchand Mangaldas advises on acquisition of 12 99 per cent stake in Max Life Insurance collectively by Axis Bank, Axis Securities and Axis Capital
aninews.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aninews.in Daily Mail and Mail on Sunday newspapers.

Cyril Amarchand Mangaldas advises on acquisition of 12 99 per cent stake in Max Life Insurance collectively by Axis Bank, Axis Securities and Axis Capital

Cyril Amarchand Mangaldas advises on acquisition of 12 99 per cent stake in Max Life Insurance collectively by Axis Bank, Axis Securities and Axis Capital
business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.

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