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Max India shares climb 5% on rights issue announcements; check key details
Shares of Max Group's Max India climbed 3.94 per cent to an intra-day high of ₹229.77 per share on the NSE during intra-day deals on Monday, April 28. The uptick in the company's share price follows the news that the company's rights issue committee has approved the proposed rights issue of equity shares.
The company's shares continued to trade northward. At 2:01 PM on Monday, Max India shares were trading at around ₹226.60 per share, up ₹5.58 or 2.52 per cent against the previous close of ₹221.02 on the NSE.
Max India rights issue details:
According to the exchange filing, the company has announced a rights issue of 82,81,973 fully paid-up equity shares with a face value of ₹10 each. The rights issue price is ₹150 per rights equity share (including a premium of ₹140), payable on application.
The total size of the rights issue stands at ₹124,22,95,950, assuming full subscription of the offered rights equity shares.
The rights entitlement ratio will be 19 rights equity shares for every 100 equity shares held by eligible shareholders as on the record date, which is Tuesday, April 29, 2025. ALSO READ |
Max India rights issue key dates:
Issue opening date: May 7, 2025
Last date for on-market renunciation of rights entitlements: May 16, 2025
Issue closing date: May 22, 2025
Finalisation of basis of allotment (on or about): May 23, 2025
Date of allotment (on or about): May 23, 2025
Date of credit of rights equity shares (on or about): May 26, 2025
Date of listing (on or about): May 26, 2025 ASLO READ | Here's why Sonata Software shares soar 6% in trade on Monday, April 28
About Max India:
Max India is the holding company for Max Group's senior care business, Antara. It operates in assisted care services and independent residences for seniors. The company focuses on people- and service-oriented businesses in health and life care. Max India's investor list includes IFC, New York Life, Nomura, and others.
As of April 28, Max India enjoys a market capitalisation of ₹8,813.33 crore on the NSE.
Max India shares have dropped 18 per cent year-to-date. In contrast, benchmark Nifty50 has advanced over 2 per cent during the same period.
The company's shares have a 52-week range of ₹82.65 – ₹444.54 on the NSE.
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