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:
Prime Minister Narendra Modi chaired the 45th PRAGATI meeting on December 26, 2024, focusing on…
On December 26, 2024, India’s star cricketer Virat Kohli was fined 20% of his match…
Museums and galleries around the world are incredible places that offer a chance to explore…
Jammu and Kashmir (J&K) Bank's share price soared by 7.4% on December 26, 2024, following…
On Christmas Eve 2024, President Joe Biden signed a historic law officially designating the bald…
Billionaires are people with incredible wealth, often reaching billions of dollars. These individuals are often…