New York Life Insurance Company entered into a Binding Memorandum of Understanding to acquire 49% stake in Acreage Builders Private Limited from Max Estates Limited for INR 1.43 billion on February 3, 2023. Post the transaction MEL holds 51% stake and New York Life hold 49% stake in ABPL The closing of the said transaction is subject to receipt of regulatory approvals, corporate approvals and other customary approvals required including execution of definitive agreements and completion of other conditions precedent to be identified in the definitive documents. As on March 18, 2023, MAX VENTURES shareholders approved the deal.

New York Life Insurance Company completed the acquisition of 49% stake in Acreage Builders Private Limited from Max Estates Limited on June 30, 2023.