Axis entities, which includes Axis Bank, Axis Capital and Axis Securities, has raised holding in Max Life Insurance Co to 19.99% from 19.02% by acquiring additional equity shares for ₹336 crore, according to a stock exchange announcement. The acquisition, considered a related party transaction, is valued at arm’s length as per existing regulations. The transaction is expected to get regulatory approval within 2-3 months. Max Life Insurance reported a gross premium income of ₹29,529 crore in FY24.
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