India: KKR, StanChart, TPG Global may invest in Max Life to fund acquisition plans

Max Financial Services Ltd on Monday said that its board has approved submission of fundraising proposals from KKR Capital Markets India Pvt. Ltd, Standard Chartered Bank, TPG Global LLC and other co-investors, to pursue an acquisition opportunity by its subsidiary Max Life Insurance Co. Ltd, the company said in a stock exchange filing.

On 21 March, the board of Max Financial had approved raising Rs5,000 crore by way of debt to invest in Max Life, either through a preferential issue or a qualified institutional placement, for part financing the amount required for funding acquisition opportunities.

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