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Max Financial Services Board Approves ₹2,000 Crore QIP for Axis Max Life Expansion

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Max Financial Services to raise ₹2,000 crore via QIP for Axis Max Life growth

Friday, November 7 | Balkrishna Industries (Interim Dividend of ₹4 per share), BPCL (Interim Dividend of ₹7.5 per share), CAMS (Interim Dividend of ₹14 per share), Dabur (Interim Dividend of ₹2.75 per share), Dr. Agarwals Eye Hospital (Interim Dividend of ₹3 per share), GCPL (Interim Dividend of ₹5 per share), HUL (Interim Dividend of ₹19 per share), Dr. Lal Pathlabs (Interim Dividend of ₹7 per share), Navin Fluorine (Interim Dividend of ₹6.5 per share), Sanofi India (Interim Dividend of ₹75 per share), and RR Kabel (Interim Dividend of ₹4 per share) are some stocks that will trade ex-dividend from Friday's trading session.

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CNBC TV18•12-03-2026, 23:06

Max Financial Services to raise ₹2,000 crore via QIP for Axis Max Life growth

•Max Financial Services board approved raising up to ₹2,000 crore through a Qualified Institutional Placement (QIP).
•Funds primarily for Axis Max Life Insurance Ltd's business growth and expansion, with remaining for general corporate purposes.
•Shareholder approval via postal ballot is required for the QIP and an increase in authorized share capital from ₹70 crore to ₹75 crore.
•Company reported a 96% YoY decline in Q2 FY26 net profit to ₹4.1 crore, largely due to its life insurance arm, Axis Max Life.
•Despite a 13.9% rise in Net Interest Income, life insurance segment revenue and profit saw significant declines.

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