Max Life Insurance buys 2.99% in Capital Small Finance Bank

New Delhi: Max Life Insurance has bought shares in Capital Small Finance Bank for Rs 49.50 crore, taking its stake in the bank to 2.99 per cent.

Max Life Insurance Company has been allotted a total of 10.57 lakh equity shares. Each equity share has a face value of Rs 10. Additionally, a premium of Rs 458 per equity share has been paid. The total consideration for this allotment amounts to Rs 49,50,03,600, the bank said in a statement.

Capital Small Finance Bank MD & CEO Sarvjit Singh Samra said: "This investment marks a significant milestone for Capital Small Finance Bank and reinforces our commitment to delivering exceptional value to our customers. It is a testament to the strength of our bank and the trust that Max Life Insurance Company has placed in us."