Max Financial Services has received board’s approval to raise funds by way of debt for the purpose of making investments in its subsidiary Max Life Insurance Company to enable Max Life to drive growth through acquisition opportunities. The Board of Directors of the company at their meeting held on March 21, 2018, considered the same.
The board has also approved availing of borrowings in one or more tranches, for an amount aggregating up to Rs 5,000 crore.
Max Financial Services, a part of the $2 billion Max Group, is the holding company for Max Life, India’s largest non-bank, private life insurance company.
