Max Life Insurance Company Ltd has incorporated a wholly-owned subsidiary Max Life Pension Fund Management Ltd and will infuse Rs 55 crore into the firm by subscribing to 5.5 crore shares.
The wholly-owned subsidiary company of Max Life Insurance Company Ltd (Max Life), a material subsidiary of Max Financial Services Ltd, has been incorporated under the Companies Act, 2013 with the name Max Life Pension Fund Management Ltd (PF Company), Max Financial Services said in a regulatory filing on Wednesday.
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