The Board of Directors of Max Financial Services Limited has given in-principle approval for a potential amalgamation with its subsidiary, Axis Max Life Insurance Limited (AMLI). Shareholders of Max Financial Services would receive shares in AMLI based on a share entitlement ratio, pending approvals and finalization of transaction documents. The decision, made on January 28, 2026, aims to streamline the corporate structure.
Amalgamation In-Principle Approved
On January 28, 2026, the Board of Directors of Max Financial Services Limited (‘the Company’) discussed and approved a potential amalgamation with Axis Max Life Insurance Limited (‘AMLI’). AMLI is a subsidiary of Max Financial Services.
Terms of the Proposed Amalgamation
According to the announcement, if the deal comes to fruition, Max Financial Services will be amalgamated into AMLI. Shareholders of Max Financial Services will be issued shares in AMLI based on a yet-to-be-determined share entitlement ratio. This plan is subject to approvals and execution of transaction documents.
Next Steps
The in-principle approval will allow the management teams of both companies to begin the process of finalizing the scheme of amalgamation and related documentation. The amalgamation is subject to the enactment of The Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025 and subsequent approval of the IRDAI.
Source: BSE
