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KRChoksey Report
Axis Bank Ltd. will pick up a 9.9% stake in Fettle Tone LLP, a promoter of Max Bupa Health Insurance Company, for Rs 90.8 Cr.
The acquisition will facilitate the bank to strengthen its insurance business.
About Max Bupa Health Insurance and Fettle Tone LLP Max Bupa Health Insurance is a joint venture between private equity group True North and Bupa, a global health insurance and healthcare company.
True North purchased the stake of Max India Ltd. for an enterprise of Rs 1,013 Crore.
It received an approval for the same in December 2019.
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