Hello @Ravindra Naik ,
Thank you for reaching out to the Microsoft Q&A platform. Happy to answer your question.
There isn't such notifications sent for increasing the current max price set. However you can opt-in to receive in-VM notifications through Azure Scheduled Events. This will notify you if your VMs are being evicted and you will have 30 seconds to finish any jobs and perform shutdown tasks prior to the eviction.
If the workloads running cannot take interruptions, I would suggest not using Spot VMs. Azure Spot Virtual Machines are great for workloads that can handle interruptions like batch processing jobs, dev/test environments, large compute workloads, and more.
Some Important Points
Price for the VM has gone up and is now > the max price.
=> The VM gets evicted. You get a 30s notification before actual eviction.
After eviction the price for the VM goes back to being < the max price.
=> The VM will not be automatically re-started. You can restart the VM yourself, and it will be charged at the current price.
If the max price is set to -1
=> The VM will not be evicted for pricing reasons. The max price will be the current price, up to the price for standard VMs. You will never be charged above the standard price.
Reference: https://learn.microsoft.com/en-us/azure/virtual-machines/spot-vms#eviction-policy
Please "Accept as Answer" and Upvote if any of the above helped to help others in the community looking for remediation for similar issues.