Axis Bank is about to increase its shareholding in Max Life Insurance  from 19.02% to 19.99%. This increase in the shareholding would cause the Bank to infuse Rs 336 crores in Max Life Insurance.

Earlier Axis Bank along with its 2 other subsidiaries was holding 19.02% shareholding in Max Life Insurance.

In the recent filings the exchange, the bank stated that “In continuation of the existing investment, this acquisition would strengthen the bank’s position in the life insurance business”.

This decision of Aquisition was taken by the Board Of Directors of the Bank which was held on , held on June 19, 2024.

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