Max Bupa Health Insurance Company (Max Bupa), has decided to divest 23% stake in Max Bupa in favour of Bupa Plc., UK. Bupa will pay Rs 1.91 billion (as increased by 23% of further capital infusions by shareholders in Max Bupa till the transaction is implemented) to Max India in an all cash transaction, to increase its stake in Max Bupa from 26% to 49%.

Correspondingly, the company's shareholding in Max Bupa will come down to 51% from the present level of 74%. The aforesaid proposal is subject to the approval of Foreign Investment Promotion Board and Insurance Development and Regulatory Authority of India.

Also approved capital contribution of up to Rs 1.50 billion by the company in Max Healthcare Institute, an equal joint venture between the company and Life Healthcare, South Africa, for its proportionate share of 46% equity stake in Max Healthcare, to enable Max Healthcare acquire a controlling stake of 51% in Saket City Hospitals.