Max Financial Services announced that Insurance Regulatory and Development Authority of India (IRDAI) vide its letter dated 25 November 2022 accorded its approval to the Company for acquisition of residual 5.17% stake held by Mitsui Sumitomo Company (MSI) in Max Life @ Rs. 85/- per share.
On acquisition of the aforesaid 5.17% stake in Max Life, the shareholding held by the Company in Max Life would stand increased to 87%.
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