Axis Bank would acquire a 29% additional stake in Max Life Insurance for an estimated price of Rs 1,592 crore. The deal will increase the Axis Bank‘s stake in Max Life to 30%. Max Financial Services will hold the remaining 70% in the joint venture.
Click Here To Get Test Series For SBI PO 2020
The acquisition may be completed in 6-9 months & Post the deal, Max Financial Services and Axis Bank will get to nominate four and three directors respectively on the Max Life board. The total premium generated from both companies exceeded Rs 38,000 crore.
Important takeaways for all competitive exams:
India’s dominance at the Asian Rifle/Pistol Championship continued as Indian shooters added two more gold…
Did you know pulses are one of the oldest foods eaten by humans? From dal…
The Milan Cortina 2026 Winter Olympics delivered high drama on Day 4, with nine gold…
Did you know one of India’s holiest rivers begins its journey high in the icy…
The Ministry of Statistics and Programme Implementation (MoSPI) has announced a comprehensive revision of the…
The Union Home Ministry has issued fresh guidelines stating that all six stanzas of Vande…