The board of Max Financial Services at its meeting held 12 March 2026 has approved raising of fund by way of a qualified institutional placement for an amount not exceeding Rs 2,000 crore. The proposed utilization of fund raise is primarily to meet the funding requirements of its material subsidiary company, viz., Axis Max Life Insurance, for supporting its business growth and expansion plans and balance for general corporate purposes.
The board also approved increase in authorised share capital of the company from Rs 70 crore to Rs 75 crore.