Max Financial Services, Max Life call joint board meeting on Analjit Singh stake sale
Updated : February 19, 2020 11:37 PM IST
The two companies are likely to discuss a proposal under which Axis Bank is expected acquire a part stake belonging to Analjit Singh in Max Financial Services.
Analjit Singh, chairman of Max Group, owns 28.31 percent stake in Max Financial Services and 71.54 percent of his holding in the company is pledged.
Axis Bank’s move to acquire stake from Analjit Singh will help the Max Group chairman to deleverage his pledged portion.