Max group's Analjit Singh plans to sell stake, real estate to repay loans

Max group promoter also plans to sell some real estate assets to repay loans it had raised through the pledging of promoter shares

Max group promoter Analjit Singh has put together a plan to sell a minority stake in Max Financial Services (MFSL), the holding company of Max Life, as well as some real estate assets to repay loans it had raised through the pledging of promoter shares in two listed companies. According to merchant banking sources, the process is expected to be completed in four to six months. 

The promoters have, however, decided not to sell off or merge the life insurance business with a strategic investor as they nearly did a few years ago. Max Life’s proposed merger with HDFC Life