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Max Financial Considers Axis Max Life Merger for Public Listing

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Max Financial explores Axis Max Life merger to unlock value, enable direct listing

Axis Bank, CreditAccess Grameen: Axis Bank has clarified media reports around a potential bid for a stake in CreditAccess Grameen, stating that it has neither submitted nor plans to submit any bid for a stake in the company. The clarification comes after promoters of CreditAccess Grameen initiated a process to sell their entire stake. Promoter CreditAccess India BV currently holds a 66.28% stake in the company, valued at approximately ₹14,000 crore. Recent media reports had also suggested that HDFC Bank may be evaluating the opportunity.

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CNBC TV18•06-03-2026, 23:50

Max Financial explores Axis Max Life merger to unlock value, enable direct listing

•Max Financial Services Ltd (MFSL) is evaluating a merger with its subsidiary Axis Max Life Insurance Ltd (AMLI) for direct stock exchange listing.
•The proposed amalgamation aims to unlock shareholder value, allowing MFSL shareholders to hold AMLI directly.
•MFSL currently holds 80.98% of AMLI; Axis Bank and its subsidiaries own the remaining 19.02%.
•The plan requires multiple approvals, including consent from Axis Entities and IRDAI, with board approval granted on January 28, 2026.
•Listing evaluation is set by December 31, 2026, with completion expected no later than April 5, 2027.

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