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Motilal Oswal Report
Insurance Regulatory and Development Authority of India has given its formal nod to Axis Bank Ltd. and its subsidiaries' – Axis Capital and Axis Securities – acquisition of up to 12% stake in Max Life.
This clears the long awaited overhang on the Axis-Max Life deal and paves the way for a long-term strategic partnership between the two entities.
As per the proposed deal structure, Axis Bank and its entities would have the right to acquire another 7% over the course of the next few years.
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