Question
Axis Bank will infuse _________ in Max Life Insurance
through preferential allotment, which will result in the private sector lender’s direct stake in the life insurer increasing to 16.22 per cent and the collective stake of Axis Entities increasing to 19.02 per cent.Solution
Axis Bank will infuse Rs 1,612 crore in Max Life Insurance through preferential allotment, which will result in the private sector lender’s direct stake in the life insurer increasing to 16.22 per cent and the collective stake of Axis Entities increasing to 19.02 per cent. This infusion will help Max Life support its future growth ambitions, augment its capital position, and improve solvency margins. Currently, Axis Entities holds a 12.99 per cent stake in Max Life and Max Financial Services holds 87 per cent. After the transaction, Max Financial’s stake in the life insurance company will come down to 80.98 per cent.
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