Currently, Axis Bank and its two subsidiaries - Axis Capital Ltd and Axis Securities Ltd - collectively own 12.99 per cent of Max Life Insurance post approval of the deal in April last year. Under the deal, the Axis entities also have the right to acquire an additional stake of up to seven per cent in Max Life, in one or more tranches, subject to regulatory approvals.source https://economictimes.indiatimes.com/industry/banking/finance/banking/axis-bank-stake-in-max-life-insurance-likely-to-rise-to-20-in-6-9-months-ceo-prashant-tripathy/articleshow/93836018.cms
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