Max Financial Services has acquired 0.74% additional stake in its subsidiary company, Max Life Insurance Company (Max Life), comprising 14,170,817 equity shares of Rs 10 each from Axis Bank, for a consideration of around Rs 153.33 crore. Accordingly, the shareholding of the company in Max Life stands increased to 70.75%.
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.