Axis Max Life Completes Full Redemption of Non-Convertible Debentures, Pays Interest on NCDs
Axis Max Life Insurance Limited (formerly Max Life Insurance Co. Ltd.) has finalized the redemption of its unsecured, subordinated, listed, rated, non-convertible debentures (NCDs). The company confirmed that it completed the full repayment of the principal amount along with the interest payment for the relevant debenture issue bearing ISIN INE511N08016.The company executed the redemption pursuant to the exercise of a Call Option. Axis Max Life reported that the NCDs were fully redeemed at par on July 31, 2026. This action covered the full amount of INR 496 Crores, leaving no outstanding balance for the debenture issue.
Earlier in the period, the company had made a timely payment of interest to the holders of these NCDs. The interest payment related to the Issue Size of INR 496 Crores was executed on July 31, 2026, amounting to INR 37.2 Crores.
Details regarding the redemption and payment for ISIN INE511N08016 are summarized below:
| Particular | Details |
|---|---|
| Issue Size | INR 496 Crores |
| Type of Redemption | Full |
| Reason for Redemption | Exercise of Call Option |
| Quantity Redeemed | 4,960 NCDs |
| Due Date for Redemption/Maturity | August 2, 2026 |
| Actual Date of Redemption | July 31, 2026 (Friday) |
| Amount Redeemed | INR 496 Crores |
Axis Max Life Insurance Limited confirmed that all necessary payment requirements, including the interest and redemption amount, were completed on time. The company also noted that there are no outstanding amounts related to this debenture series following the completion of the process.
MFSL Stock Price Movement
Max Financial Services Limited sheds value, with shares dropping 1.34% as of 12:17 PM and trading near ₹1521.90. The equity movement comes amidst significant intraday activity, supported by a volume of 185,209 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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