Axis Bank to deepen insurance bet with Rs 389 crore infusion in Axis Max Life; stake seen at 19.99%

Axis Bank plans to invest Rs 389 crore in Axis Max Life, raising its combined stake to 19.99%, near the regulatory cap. The move strengthens its insurance play as the sector expands. The deal remains subject to approvals, while Max Financial will retain majority ownership of around 80%.

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