Max Financial Services Limited (MFSL) announced that its material subsidiary, Axis Max Life Insurance Limited, will exercise the call option to fully redeem 4,960 unsecured, subordinated debentures aggregating to Rs 496 crore on August 2, 2026. The debentures were issued on August 2, 2021, with a five-year tenor from the deemed date of allotment.
The debentures, bearing ISIN INE511N08016, have a face value of Rs 0.10 crore each and carry a 7.50% interest rate. They are classified as listed, rated, redeemable, non-cumulative, taxable, non-convertible securities. The record date for the interest payment is July 16, 2026.
Since the redemption date of August 2, 2026 falls on a non-business day, the payment of the full redemption amount along with the final annual interest will be made on July 31, 2026, the immediately preceding business day. Axis Max Life will pay the principal plus interest at 7.50% to debenture holders on this date.
A notice regarding the exercise of the call option has been issued and will be available on the website of Axis Max Life Insurance Limited. The securities are officially designated as 7.50% Max Life Insurance 2031. The filing was made under Regulation 51 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.