Transaction Details
Previous Disclosure Reference: The company had previously disclosed on April 2, 2026 regarding capital infusion by Axis Bank Limited in Axis Max Life Insurance Limited by way of issuance of equity shares for an aggregate investment of up to ₹389 crores to meet funding requirements.
Payment Received: Axis Max Life Insurance Limited received Share Subscription Money of ₹3,806,036,780 (Three Hundred Eighty Crores Sixty Lakh Thirty Six Thousand Seven Hundred Eighty only) from Axis Bank Limited on May 29, 2026.
Allotment Approval: The Share Allotment Committee of Axis Max Life Insurance Limited, pursuant to powers conferred by the members, unanimously approved the allotment of 2,50,56,200 (Two Crore Fifty Lakhs Fifty Six Thousand Two Hundred) fully paid-up Equity shares to Axis Bank Limited on a preferential basis on June 1, 2026.
Share Details: Each equity share has a face value of ₹10. The allotment price was ₹151.90 per share, including a share premium of ₹141.90 per share. This price represents the fair market value determined using the discounted cash flow method by Registered Valuers and Category 1 Merchant Bankers as per extant regulations.
Shareholding Impact
Post-allotment, the shareholding of Max Financial Services Limited in Axis Max Life Insurance Limited stands reduced to approximately 80.01% of the total paid-up capital.
The revised shareholding pattern of Axis Max Life Insurance Limited is as follows:
- Max Financial Services Limited: ~80.01%
- Axis Bank Limited: ~17.23%
- Axis Capital Limited: ~1.84%
- Axis Securities Limited: ~0.92%
- Others: ~0.00%
- Total: 100.00%
Additional Information
The issuance was conducted as a preferential issue of equity shares in accordance with applicable law including Sections 42 and 62 of the Companies Act, 2013 and rules made thereunder.