Max Financial Services Limited has announced a Corporate Identity Number change for its material subsidiary Axis Max Life Insurance Limited, following the completion of the company's registered office relocation from Punjab to Haryana. The disclosure was made on March 13, 2026, in compliance with SEBI listing obligations.

Corporate Identity Number Update

The key details of the CIN change are presented below:

The change reflects the subsidiary's successful relocation of its registered office from Punjab to Haryana, which required approval from the Regional Director and subsequent registration with the appropriate Registrar of Companies.

Regulatory Compliance and Disclosures

Max Financial Services made the disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company referenced its earlier disclosure dated February 12, 2026, indicating this was part of an ongoing corporate restructuring process.

Axis Max Life Insurance Limited separately communicated the CIN change to the National Stock Exchange of India Limited. The subsidiary company, formerly known as Max Life Insurance Co. Ltd., also referenced previous disclosures made on August 07, 2025, February 3, 2026, and February 12, 2026, suggesting a systematic approach to the relocation process.

Administrative Process

The Corporate Identity Number change was formalized through a Certificate of Registration issued under Section 13(5) of the Companies Act, 2013. The certificate confirms that Axis Max Life Insurance Limited altered its Memorandum of Association provisions regarding the registered office location through a special resolution.

The Regional Director's order dated January 27, 2026, had previously confirmed the alteration, with the final certificate being registered on March 12, 2026. The new registered office is located at Plot no. 90-C, Sector-18, Urban Estate, Gurugram, Haryana.

Company Information

Axis Max Life Insurance Limited operates under IRDAI Registration Number 104 and maintains its corporate office at 11th and 12th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase-II, Gurugram. The company continues its insurance operations under the new corporate structure following the state jurisdiction change.

Max Financial Services Limited has received comprehensive board approval for its ambitious capital raising plan worth up to ₹2,000 crores through Qualified Institutional Placement (QIP) alongside an increase in authorized share capital. The board meeting held on March 12, 2026, from 1600 hrs to 1625 hrs IST, approved multiple strategic financial initiatives primarily aimed at supporting its material subsidiary Axis Max Life Insurance Limited's business growth and expansion plans.

Board Approval and Fund Raising Framework

The board has approved raising funds through fully paid-up equity shares with face value of ₹2.00 each, other equity-based instruments or securities, executed in one or more tranches. The fund raising will be conducted primarily through QIP in accordance with applicable provisions of the Companies Act 2013 and SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018, subject to necessary governmental, statutory and regulatory approvals including shareholder approval.

Authorized Share Capital Enhancement

The board approved increasing the authorized share capital from ₹70.00 crores to ₹75.00 crores, representing expansion from 35.00 crore equity shares to 37.50 crore equity shares, each maintaining face value of ₹2.00. This capital restructuring requires consequential amendments to clause V of the Memorandum of Association and shareholder approval through postal ballot process along with other necessary regulatory approvals.

Regulatory Compliance and Trading Window

Following the board meeting conclusion, the company announced reopening of trading windows for all designated persons including promoters, directors, key managerial personnel, designated employees and other connected persons. The trading restrictions implemented from March 7, 2026, will be lifted after 48 hours from stock exchange intimation, effective March 14, 2026, in accordance with the company's insider trading policy and SEBI regulations.

Strategic Impact on Axis Max Life Insurance

The approved ₹2,000 crore fund raising represents significant strategic investment in strengthening Axis Max Life Insurance Limited's market position and operational capabilities. The primary fund utilization focuses on meeting funding requirements of the material subsidiary for supporting business growth and expansion plans, with balance allocated for general corporate purposes. The company has filed detailed disclosures with stock exchanges under Regulation 30 of SEBI Listing Regulations.