Max Financial Services Ltd
Max Life Insurance Redeems ā¹496 Crores NCDs Ahead of Schedule š°
- Axis Max Life Insurance (subsidiary of Max Financial Services) has fully redeemed its Non-Convertible Debentures (NCDs).
- The total redemption amount paid was ā¹496 Crores for 4,960 NCDs.
- The NCDs were originally due on August 2, 2031, but were called early on August 2, 2026.
- The principal redemption payment was made on July 1, 2026.
- An annual interest payment of ā¹37.2 Crores on these NCDs was also made on July 1, 2026.
- The NCD issue size was ā¹496 Crores, and the outstanding amount is now Nil.
- The NCDs carried credit ratings of AA+ (Stable) from CRISIL and ICRA.