Max India has received an approval from Insurance Regulatory and Development Authority of India (IRDAI) for divestment of entire shareholding of the company held in its material subsidiary viz. Max Bupa Health Insurance Company (equivalent to 51% of Max Bupa’s total issued and paid-up equity share capital) to Fettle Tone LLP ( an affiliate of True North Fund VI LLP).
The parties to the arrangement are in the process of completing certain conditions precedents to the aforesaid divestment and expect to complete the transaction in few weeks, consequent to which, Max Bupa Health Insurance Company shall cease to be a subsidiary of the company.
Max India is engaged in the business of investments and providing consultancy services to group companies. The company’s segments are Healthcare Business, Business Investments, Health Insurance, Senior Living and others.
