HDFC Standard Life Insurance has proposed to hold a 69% share in a new merger with Max Life Insurance, the latter seeing a shareholding of 24%. The two companies will be merged into one company, which is expected to have an initial capital base of Rs 10,000 crore.
HDFC Standard Life Insurance has proposed to hold a 69% share in a new merger with Max Life Insurance, the latter seeing a shareholding of 24%. The deal still requires the approval of shareholders and high-court officials.