Connect with us

Hi, what are you looking for?


Axis Bank hikes stake in Max Life Insurance

Axis Bank has hiked its stake in Max Life Insurance. The bank will now have 5.99% holding in the insurance company. The company told the stock exchanges that it has sold 3.99% stake for Rs 76.56 crore to the bank. The deal values the insurance company at around Rs 1918 crore approximately. The bank said that it has bought 4.99% stake from Max Financial Services and Mitsui Sumitomo for Rs 95.75 crore. The price of 1% stake it bought from Mitsui Sumitomo is Rs 19.19 crore. The bank had 1% stake in the private life insurance company. The insurance company is a joint venture between Max Financial Services and Mitsui Sumitomo Insurance Company.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

PR Newswire

Copyright © Glocal Infomart Pvt Ltd. All rights reserved. Usage of content from website is subject to Terms and Conditions.