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Jefferies has named Max Financial Services its preferred life insurance stock, keeping a Buy rating even after trimming its target price. The brokerage said regulatory changes should have a manageable effect on growth and pointed to additional upside from the Axis Bank distribution channel.
Private equity firm True North has reportedly acquired a minority stake in adtech and commerce company InMobi through a secondary transaction valued at about $50-60 million, according to a Livemint report. The deal, which includes a small primary component, comes as InMobi accelerates preparations for a public listing in India and continues reshaping its cap table ahead of a potential IPO.
Shares of PB Fintech and Turtlemint came under heavy pressure for a second straight session after the Insurance Regulatory and Development Authority of India proposed product- and channel-specific commission ceilings for insurance distributors. The move has raised fresh concerns over revenue growth, customer acquisition economics and the long-term business models of India's online insurance brokers.
India's insurance regulator has proposed a sweeping reset of insurtech economics, including commission caps, tighter expense limits and restrictions on bundled lending-linked insurance, triggering a sharp sell-off in listed platforms. The market reaction was immediate, with PB Fintech and Turtlemint hit hard, even as Moneyview's IPO opened to a modest first-day subscription led by retail and non-institutional investors.
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