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Max Life decides not to pursue 'current acquisition opportunity'

Press Trust of India  |  New Delhi 

today said it is not considering fund raising plans as its subsidiary has decided not to pursue any "acquisition opportunity".

Max Financial was also supposed to raise funds to help its life insurer arm to acquire new assets.

Earlier in April, had announced that its board of directors approved various fund raising proposals to pursue acquisition opportunity by its subsidiary Max Company (Max Life).

"In this regard, we would like to inform you that as has decided not to pursue the current acquisition opportunity, the company (Max Financial) is no longer considering any of the fund raising opportunity referred in the previous disclosure," Max Financial said in a regulatory filing.

Earlier in mid-2017, the proposed merger of and with HDFC Standard was shelved due to regulatory hurdles.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, June 08 2018. 22:10 IST