Axis Bank invests INR 3.81 bln in Axis Max Life Insurance Co
This story was originally published at 15:43 IST on 1 June 2026
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--Axis Bank invests INR 3.81 bln in Axis Max Life Insurance Co
MUMBAI – Axis Bank has additionally invested INR 3.81 billion in equity shares of Axis Max Life Insurance Co. Ltd., the lender said in an exchange filing. The transaction is a related party transaction which will increase the total holding of Axis Bank and its subsidiaries in Axis Max Life Insurance to 19.99% from 19.02% earlier.
The investment was made with the necessary approval from the Reserve Bank of India, received on Mar. 13. The objective of the investment is to strengthen the bank's position in the life insurance business, the bank said in the exchange filing.
The private-sector lender had posted profit after tax of INR 70.71 billion in the March quarter. On Monday, Shares of the lender ended 0.9% lower at INR 1,275.40 on the National Stock Exchange. End
US$1 = INR 95.01
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Janwee Prajapati
Edited by Akul Nishant Akhoury
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