Max Financial Services Limited has announced that its subsidiary, Axis Max Life Insurance Limited, has successfully made timely payments for both interest and the full redemption amount on its Non-Convertible Debentures (NCDs) bearing ISIN INE511N08016. This disclosure, made in line with SEBI LODR regulations, confirms the completion of redemption following the exercise of a call option, providing stakeholders with assurance regarding financial obligations.
Axis Max Life Completes NCD Obligations
Max Financial Services Limited has issued a disclosure confirming the fulfillment of financial commitments by its material subsidiary, Axis Max Life Insurance Limited. The announcement details the successful and timely payment of interest and the complete redemption of Non-Convertible Debentures (NCDs) with ISIN INE511N08016. These actions were carried out in accordance with the applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Details of Interest and Redemption Payments
Further to previous disclosures, Axis Max Life has confirmed the payment of interest and the redemption amount for the NCDs. Specifically, the interest payment amounted to INR 37.2 Crores, and the redemption amount was INR 496 Crores. The due dates for both interest and redemption were initially set for August 2, 2026. However, as this date fell on a non-business day, the payments were advanced to the immediately preceding business day, July 31, 2026, as per the terms of issue and applicable regulations.
Confirmation of NCD Status
The disclosures include a certificate confirming the status of interest and redemption payments. The redemption was carried out at par, pursuant to the exercise of a call option. All details regarding these transactions have been submitted to the National Stock Exchange of India Limited (NSE), ensuring transparency for investors and the wider market. The company has reaffirmed its commitment to meeting its financial obligations promptly.
Source: BSE
