Max Financial Services Proposes ₹2,000 Crore Capital Raise Via QIP

Max Financial Services Ltd (MFSL), part of the Max Group, announced on Thursday, March 12, that its board has approved raising up to ₹2,000 crore through a qualified institutional placement (QIP) or other permitted instruments. 

Max Financial Services QIP Details

The fundraising will involve issuing fully paid-up equity shares of face value ₹2 each, or other equity-linked securities, in one or more tranches, subject to regulatory and statutory approvals. The company said the capital raised will primarily fund its material subsidiary, Axis Max Life Insurance Ltd, supporting business growth and expansion plans, while the remaining proceeds will be used for general corporate purposes.

The board also approved increasing the company’s authorised share capital from ₹70 crore to ₹75 crore, raising the number of equity shares from 35 crore to 37.5 crore (face value ₹2 each). This change will require shareholder approval via postal ballot and other necessary regulatory permissions.

Also Read: Indian Overseas Bank Lowers One-Month MCLR by 10 Basis Points 

Max Financial Services Q3 FY26 Results

Max Financial Services reported a 96% year-on-year decline in net profit, down to ₹4.1 crore for Q3 FY26 from ₹113 crore in the same quarter last year. The sharp drop was primarily due to lower earnings from its life insurance arm, Axis Max Life.

• Net Interest Income (NII) rose 13.9% YoY to ₹131 crore from ₹115 crore.
• Life insurance revenue fell to ₹9,790.7 crore from ₹13,370.5 crore, while segment profit declined sharply to ₹23.7 crore from ₹170.8 crore.

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