True North close to buying Max India's entire stake in Max Bupa

Private equity firm True North Managers Llp is close to buying out Analjit Singh-promoted Max India Ltd’s entire 51% stake in standalone health insurer Max Bupa Health Insurance Co. Ltd, said two people with direct knowledge of the discussions. Max India will exit the health insurance business a decade after it entered as a promoter. This will mark the first exit by an Indian promoter in the domestic health insurance industry.