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Shares of Max Financial Services, on Thursday, were locked in 10 per cent upper circuit at Rs 938.65, also its record high, on the BSE, after the Insurance Regulatory and Development Authority of India (IRDAI) gave its approval for the acquisition of up to 12 per cent stake in Max Life Insurance (Max Life) by Axis Bank and its subsidiaries Axis Capital and Axis Securities (Axis Entities).
As per the proposed transaction, Axis Entities have the right to acquire up to 19 per cent stake in Max Life, of which, Axis Bank proposes to acquire up to 9 per
As per the proposed transaction, Axis Entities have the right to acquire up to 19 per cent stake in Max Life, of which, Axis Bank proposes to acquire up to 9 per
