Max Life Insurance Invests Rs 49.5 Crore in Capital Small Finance Bank
In a major development, Capital Small Finance Bank has successfully secured an equity investment of over INR 49.5 crore from Max Life Insurance Company Ltd. As part of this investment, Max Life Insurance has been allotted a total of 10,57,700 equity shares.
The equity shares, with a face value of INR 10 per share, have been allocated at a premium of INR 458 per equity share. As a result, Max Life Insurance Company Ltd. now holds a 2.99% stake in the post-issue equity shareholding of the Bank.
Sarvjit Singh Samra, the Managing Director and CEO expressed his enthusiasm about this investment, stating, “This investment is a significant milestone for us and demonstrates our unwavering commitment to providing exceptional value to our customers. It serves as a testament to the strength of our bank and the trust that Max Life Insurance Company Limited has bestowed upon us.”
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About Capital Small Finance Bank:
Capital Small Finance Bank is India’s inaugural small finance bank, established in April 2016 as a microfinance lender. Its headquarters are located in Jalandhar, India.
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