The Competition Commission of India (CCI) has approved the subscription to 14,25,79,161 equity shares of Max Life Insurance Company Limited by Axis Bank Limited.

Axis Bank is an Indian private sector bank involved in the business of banking. Axis Bank provides services in retail banking, which includes retail lending and retail deposits; wholesale banking; payment solutions; wealth management; forex and remittance products; distribution of mutual fund schemes and distribution of insurance policies.

Max Life Insurance is engaged in the business of providing life insurance and annuity products and investment plans in India.

Detailed order of the CCI will follow.

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YKB/VM/KMN

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