Max Life buys 2.99% stake in Capital SFB
The Jalandhar-based lender, the country's first small finance bank, allotted 1.06 million shares to the insurance company at ₹468 per share. The capital infusion is likely to raise the capital to about 20.8%, the bank said. - Our Bureau
By ET Bureau | Updated:
BCCL - Non Copyright
Kolkata: Max Life Insurance has picked up a 2.99% stake in Capital Small Finance Bank for ₹49.5 crore, valuing the bank ₹1,653 crore.
The Jalandhar-based lender, the country's first small finance bank, allotted 1.06 million shares to the insurance company at ₹468 per share. The capital infusion is likely to raise the capital to about 20.8%, the bank said.
The Jalandhar-based lender, the country's first small finance bank, allotted 1.06 million shares to the insurance company at ₹468 per share. The capital infusion is likely to raise the capital to about 20.8%, the bank said.
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