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Max Life Insurance Buys 2.99% In Capital Small Finance Bank
The total consideration for this allotment amounts to Rs 49,50,03,600, the bank said in a statement.
![<div class="paragraphs"><p>Max Life Insurance Enters Pension Fund Management Biz; Its Arm Secures Licence From PFRDA. (Source: <a href="https://unsplash.com/es/@towfiqu999999?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText">Towfiqu barbhuiya</a>/ <a href="https://unsplash.com/s/photos/fund?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText">Unsplash</a>)</p></div>](https://media.assettype.com/bloombergquint%2F2022-08%2Febe6f81c-8df0-4d40-8498-e91c7aefc27e%2Ftowfiqu_barbhuiya_joqWSI9u_XM_unsplash.jpg?auto=format%2Ccompress&w=200)
Max Life Insurance Enters Pension Fund Management Biz; Its Arm Secures Licence From PFRDA. (Source: Towfiqu barbhuiya/ Unsplash)
Max Life Insurance has bought shares in Capital Small Finance Bank for Rs 49.50 crore, taking its stake in the bank to 2.99%.
Max Life Insurance Company has been allotted a total of 10.57 lakh equity shares. Each equity share has a face value of Rs 10. Additionally, a premium of Rs 458 per equity share has been paid. The total consideration for this allotment amounts to Rs 49,50,03,600, the bank said in a statement.
Capital Small Finance Bank MD & CEO Sarvjit Singh Samra said: "This investment marks a significant milestone for Capital Small Finance Bank and reinforces our commitment to delivering exceptional value to our customers. It is a testament to the strength of our bank and the trust that Max Life Insurance Company has placed in us."
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