Axis Bank Cuts Stake Purchase In Max Life To 17%

22Views

August 24, 2020

Axis Bank said on Monday it has reduced the size of the stake that it plans to buy in Max Life Insurance to 17% from 29%.

Reuters
Last Updated: August 24, 2020, 5:00 PM IST

BENGALURU: Axis Bank said on Monday it has reduced the size of the stake that it plans to buy in Max Life Insurance to 17% from 29%.

The private-sector lender’s move comes months after media reports said the deal, announced in April, ran into a regulatory roadblock over certain clauses in the agreement.

The lender and the insurer did not immediately respond to requests for comment.

The financial terms of the revised deal were not disclosed.

Axis Bank, which already holds a minority stake in Max Life, will own an 18% interest in the insurer after the deal, the Mumbai-based lender said in a regulatory filing.

Also Watch

SSR Death Probe: Subramanian Swamy On Why He Thinks Rhea Should Be Grilled In Custody | Brass Tacks

It had initially planned to raise its stake in the insurer to 30% for about 15.90 billion rupees.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Array
(
[videos] => Array
(
[0] => Array
(
[id] => 5f43f2117c39367400f9b6e6
[youtube_id] => 1hbZg2mhi00
Axis Bank Cuts Stake Purchase In Max Life To 17% => SSR Death Probe: Subramanian Swamy On Why He Thinks Rhea Should Be Grilled In Custody | Brass Tacks
)

[1] => Array
(
[id] => 5f43ec717c39367400f9b652
[youtube_id] => os3UHIz3QJI
Axis Bank Cuts Stake Purchase In Max Life To 17% => Can Congress Ever Look Beyond The Gandhis? | Brass Tacks | CNN News18
)

)

[query] => https://pubstack.nw18.com/pubsync/v1/api/videos/recommended?source=n18english&channels=5d95e6c378c2f2492e2148a2,5d95e6c278c2f2492e214884,5d96f74de3f5f312274ca307&categories=5d95e6d7340a9e4981b2e10a&publish_min=2020-08-21T17:00:03.000Z&publish_max=2020-08-24T17:00:03.000Z&sort_by=date-relevance&order_by=0&limit=2
)

What If Jim Sarbh Gave You Keys to His House for a Week!

Axis Bank Cuts Stake Purchase In Max Life To 17%

Axis Bank said on Monday it has reduced the size of the stake that it plans to buy in Max Life Insurance to 17% from 29%.

Also Watch

Speak Your Mind

LEAVE A REPLY Cancel reply

Get in Touch

Recommend for You

Oh hi there It’s nice to meet you.

Subscribe and receive our weekly newsletter packed with awesome articles that really matters to you!

You might also like

EDITOR PICKS

POPULAR POSTS

POPULAR CATEGORY

About Us

Follow Us

Support Us & Be a Patreon

Add QNewsHub to your Homescreen!

Oh hi there
It’s nice to meet you.