Private lender Axis Bank has informed the exchanges that it has entered into a revised agreement with Max Financial to acquire the remaining 7 percent stake in the latter. The parties agreed that the valuation for the right to acquire the remaining 7 percent stake of Max Life will be through fair market value using discounted cash flow instead of valuation as per Rule 11UA of the Income Tax rules, 1962. Axis Entities have earlier acquired 12.99 percent stake in Max Life at Rs 35 per share with the right to acquire an additional 7 percent stake in the company.
Bank Maha Pack includes Live Batches, Test Series, Video Lectures & eBooks
In October last year, the Insurance Regulatory and Development Authority (IRDAI) had imposed a penalty of Rs 3 crore on Max Life and Rs 2 crore on Axis Bank due to violations of rules in the proposed deal. The deal was first announced in 2020, under which, Axis Bank proposed to acquire a 29 percent stake in Max Life Insurance.
Supercomputers are very powerful machines that can solve big and difficult problems much faster than…
The month of May 2025 is filled with a series of significant national and international…
Uttar Pradesh is a state in India that is well-known for its rich culture, history…
Karnataka Soaps & Detergents Limited (KSDL), a century-old state-owned enterprise, has appointed acclaimed actress Tamannaah…
Airports are very busy places where people travel by airplane. Every year, millions of passengers…
On May 21, 2025, the Reserve Bank of India (RBI) officially notified the establishment of…
![](data:image/svg+xml;charset=utf-8,<svg height="34px" width="156px" xmlns="http://www.w3.org/2000/svg" version="1.1"/>)
![](data:image/svg+xml;charset=utf-8,<svg height="448px" width="448px" xmlns="http://www.w3.org/2000/svg" version="1.1"/>)
