Axis Bank Ltd.

Axis Bank is planning to raise its stake in Max Life Insurance to about 20% over the next 6-9 months. Currently, Axis Bank and its two subsidiaries -- Axis Capital and Axis Securities collectively own 12.99% of Max Life Insurance post approval of the deal in April last year. Under the deal, the Axis entities also have the right to acquire an additional stake of up to seven per cent in Max Life, in one or more tranches. 

Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.