Axis Bank has decided to cut down on its investments in Max Life Insurance. It now plans to acquire 17.002 per cent of the equity share capital of the life insurer. This will result in total ownership of 18 per cent post the transaction, Axis Bank said in a regulatory filing on Monday. The private sector lender had in April announced plans to acquire 29 per cent stake in Max Life Insurance. This would have taken its overall shareholding in the insurer to 30 per cent.
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