Max Financial Services Block Deal: 1.5% equity changes hands for Rs 569 crore

Max Financial Services shares have risen around 10 percent over the past year.

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Shares of Max Financial Services will be in focus on March 27 after a block deal worth Rs 569 crore took place on the exchanges. As much as 51.16 lakh shares of the company, making up a 1.5 percent stake changed hands in the block deal window.

Shares changed hands at an average price of Rs 1,112, largely at par with Wednesday's closing price of Rs 1,115 per share.

Moneycontrol could not immediately ascertain the buyers and the sellers in the deal. However, CNBCTV-18 reported that promoter group firm Max Ventures Investment Holding was likely to be the seller.

According to sources, ahead of the block deal, the price per Max Financial Services share was fixed at Rs 1,117.6 apiece, with the total size of the block deal is estimated at Rs 611.6 crore, according to the sources.

Follow our market blog to catch all the live updates

On March 25, UBS AG sold off 11 lakh shares of the non-bank finance lender at an average of Rs 1,157.35 per share which were bought by Intergrated Core Strategies (Asia).

In December 2024, international brokerage Jefferies reiterated its buy call on Max Financial Services, raising its target price after suggesting that the deal with Axis Bank bodes well in coming quarters.

The brokerage highlighted that the partnership between Max Life and Axis Bank has resulted in a rebranding of the company to Axis Max Life Insurance, Jefferies said. This refreshed identity is expected to boost brand recall, particularly in Tier II and Tier III markets where Axis Bank's presence is strong.

However, Jefferies noted that regulatory norms on bancassurance will need to be monitored, given that Axis Bank contributes 45 percent of Max Life's annual premium equivalent (APE). The stock is trading at an attractive valuation of 8 times its price-to-value of new business (P/VNB).

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.