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Axis Bank set to acquire 29% stake in Max Life Insurance for Rs 1,592 crore

Axis is looking to purchase around 55.61 crore shares of Max Life Insurance at a price of Rs 28.61 per share, but the estimate will change basis the date when the deal is closed

Topics
Axis Bank

Subrata Panda  |  Mumbai 



Representative image
The boards of Axis Bank and Max Financial Services (MFS) met on April 27 and gave the go-ahead to the deal

Private sector lender on Tuesday said it would acquire an additional 29 per cent stake in Max Life Insurance for an estimated price of Rs 1,592 crore, raising its total holding in the life insurer to 30 per cent after the completion of the deal.

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First Published: Tue, April 28 2020. 21:59 IST

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