Axis Bank to raise stake in Max Life via 16.12 billion rupee investment
Axis Bank on Wednesday said it will raise its stake in insurer Max Life to 16.2% from 9.99% by infusing 16.12 billion rupees ($194.6 million) through a preferential allotment of shares.
Axis Bank along with its entities acquired a 12.99% stake in Max Life in 2021, and through this new investment, they will own 19.02% in the insurer. Pic: Reuters