Axis Bank now decides to acquire only 17% stake in Max Life from 29% earlier

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26 Aug, 2025 12:21

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Axis Bank on August 24 said it has proposed to acquire 17 percent share of Max Life, reducing it from the earlier proposed 29 percent.

"...Axis Bank now proposes to acquire 17.002 percent of the equity share capital of Max Life, resulting in total ownership of 18 percent post the transaction. The parties have executed the definitive agreements," the company said in a BSE filing.

"Axis Bank and Max Life will shortly approach the respective regulatory authorities, with revised applications for their consideration and approval. The transaction is subject to regulatory approvals," the regulatory filing further added.

As per media reports, Max Life Insurance and Axis Bank have modified some terms of their proposed joint venture (JV) in order to comply with regulatory norms.

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