DCM Axis Max Life Sub-debt

pending

The investment comprises a debt investment by IFC in the form of listed, subordinated, unsecured, redeemable INR-denominated non-convertible debentures (NCD) of INR 2.85 billion (approximately US$33 million equivalent) with a tenor of up to ten years in Axis Max Life Insurance Limited (AMLI or the Company).IFC, through its role as an anchor investor in the competitive bidding process has helped mobilize INR 5.15 billion (approximately US$60 million equivalent) from other institutional investors. The investment will help strengthen the Company’s solvency margin and support its business growth in the largely underpenetrated life insurance market in India.