Axis Bank, Max Financial shares in focus after clarification on Swamy’s allegation
Both the companies have refuted Subramanian Swamy’s allegation, saying that they obtained all necessary regulatory approvals for the Axis Bank-Max Life deal.
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Axis Bank, Max Financial shares fall after Subramanian Swamy's '₹5,100 cr scam' allegation
Swamy has alleged that the Axis Bank-Max Life deal violated the mandatory directions of the IRDAI.
Max Financial Services shares hit 52-week high; surge 56% in 4 months
The share price of the life insurance company gained as much as 6.3% to touch a new 52-week high of ₹937.50 in early trade today.
Axis Bank to raise stake in Max Life Insurance by 6.23%
After the proposed transaction, Max Financial Services, which is the holding company of Max Life, will have an 80.98% stake in the insurance firm.
Axis Bank complies with IRDAI order; to buy 7% more stake in Max Financial
The revision in agreement comes after IRDAI asked the entities to revise their pact to buy Max Financial’s balance stake at “fair market value” to comply with its norms.
Max Financial gets IRDAI nod to acquire residual stake in Max Life; stock jumps 6%
Max Financial Services will acquire the additional stake in Max Life Insurance at ₹85 per share, taking total shareholding to 87%.
Max Life to pay ₹3 cr IRDAI penalty but insists no ‘wrongdoing’
In 2021 Axis Bank-Max Life deal, IRDAI says Max Life facilitated transactions of transfer of its shares between parties in violation of its rules, which allowed Axis entities to make “undue profits”.
Axis Bank, Max Life to explore strategic tie-up
Axis Bank, Max Financial Services and its insurance arm Max Life are exploring an exclusive arrangement for a strategic long-term partnership to unlock value for stakeholders.
