An announcement from Max Bupa Health Insurance has been made that its foreign parent Bupa has executed agreements for acquiring an additional 23% stake in Max Bupa, the 7th largest private health insurer in India.

Bupa will be paying around Rs 191 crore to Max India in an all cash transaction for increasing its stake in Max Bupa from 26% to 49%.

After securing the requisite regulatory clearance from the Foreign Investment Promotion Board (FIPB) and the Insurance Regulatory and Development Authority of India (IRDAI), the agreements will come into force.

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