Max Financial shares decline after ₹2,000 crore QIP approval
after close1 source ↓written by the desknot a recommendation
- through a qualified
- ₹2,000 crore
- share capital
- ₹70 crore to ₹75 crore
Shares of Max Financial Services are down following the board's approval to raise ₹2,000 crore through a qualified institutional placement (QIP). The funds will primarily support Axis Max Life Insurance's growth and expansion, with some allocated for general corporate purposes. Additionally, the board increased authorized share capital from ₹70 crore to ₹75 crore.
Not investment advice. For informational purposes only.