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Axis Bank to pick 20% stake in Max Life: reports

Feb 20, 2020 13:25 IST

Axis Bank is in talks to acquire more than 20% stake in Max Life Insurance through fresh issue of equity, the Economic Times reported on Thursday, citing multiple sources. The deal is aimed at building a strategic and long-term partnership with Axis Bank which is also Max Life’s largest source of revenue at 54%, according to the report. Axis Bank, which owns a shade over 2% in Max Life, will infuse more than ₹2,000 crore in the latter.

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