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Max Financial gets rerated, as Axis Bank-Max Life deal all set to fructify

Max Financial gets rerated, as Axis Bank-Max Life deal all set to fructify

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MUMBAI: Axis Bank’s plan to purchase stake in Max Life Insurance Ltd has been a critical event for parent Max Financial Services Ltd, in terms of getting a valuation boost.

The fact that the private sector lender is now looking at a lower stake purchase of 17% than the originally envisaged 29% hasn’t dampened investor sentiment. In fact, shares of Max Financial Services had surged over…

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Axis Bank-Max Life deal: Companies agree to changes in certain options (Representative image) NEW DELHI: Axis Bank and Max Financial Services will make changes to certain options that were agreed upon earlier this year for the lender to hike stake in Max Life Insurance, following a correspondence from regulator Irdai, according to a filing.