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:
United Nations Secretary-General António Guterres has issued the strong warning about the growing dangers of…
The State government of Rajasthan has constituted a five-member committee to prepare a draft law…
India's first Made In India C295 transport aircraft is set to be delivered to the…
On 23rd to 24th June, 2026 in Bengaluru India hosting the BRICS Heads of Space…
India has secured the 13th position in the QS World Future Skills Index of 2027…
The latest International Monetary Fund (IMF) World Economic Outlook Report which released in the April…