Max India and Max Ventures and Industries are yet to list, and we are expecting approvals by early to mid-May, says Rahul Khosla, Chairman of Max Life Insurance.
Explaining the rationale behind the split, Analjit Singh said at a press conference: "Over the years, we have been told that a lot of investors are interested in parts of what we do, but not necessarily the entire piece."
"The Honourable High Court of Punjab and Haryana approved Max India‘s composite scheme of arrangement for demerger of company," says the diversified company in its filing.
The UK health care group was the first foreign insurer to announce its intent to increase its stake to 49 per cent in its Indian health insurance subsidiary after the government relaxed FDI participation rules for insurance companies.
Max Life valuation currently stands at Ra 16,000-17,000 crore, while the embedded value stands at Rs 5,323 crore, Rahul Khosla, MD, Max India says
In an interview to CNBC-TV18, Rahul Khosla, MD, Max India, speaking on the development, clarifies whether holding companies‘ foreign ownership would also be added into that category.
CNBC-TV18's Senthil Chengalvarayan caught up with Khosla, on The Forbes India Show, to discuss his journey so far with Max and the road ahead.