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:
The Punjab government reportedly launched SANGAT Mental Health Clubs in 40 colleges on 22 October…
Indian para-badminton players Nitesh Kumar and Naveen Sivakumar reportedly won men’s singles gold medals at…
Greece’s Parliament reportedly approved legislation on 23 October 2026 to prohibit children under 15 from…
A Kochi-based architecture student won the 28th Charles Correa Gold Medal in Mumbai on October…
Ameena Nazreen A S received a US$500 cash award at the Global Youth Institute on…
Indian table tennis players Yashaswini Ghorpade and Harmeet Desai secured a medal in mixed doubles…