Latest news with #MaxGroup
Time of India
24-05-2025
- Business
- Time of India
Analjit Singh transfers Lutyens' Delhi bungalow to Vstar Ventures in ₹152 crore internal deal
Max Group 's Analjit Singh has transferred a prime 2,140 sq metre bungalow in Lutyens' Delhi 's APJ Abdul Kalam Road to Vstar Ventures for Rs 152 crore in a private transfer that's part of a broader reorganisation within the family's business interests. The property was sold by Delhi Guest Houses Pvt Ltd to Vstar Ventures. Both firms are owned by Analjit Singh. Sahil Vachani—Vice Chairman and Managing Director of Max Estates , and Singh's son-in-law—represented Vstar Ventures in the deal. Vachani and his wife, Tara Singh Vachani, Executive Chairperson of Antara Senior Living, are both directors in the company. 'The transfer of the property is part of an internal family reorganisation carried out pursuant to a family settlement that was previously disclosed publicly earlier this year. We would like to clarify that this is a private transaction, and none of the listed entities within the Max Group are involved,' a spokesperson for Analjit Singh said in a statement. Earlier this year, Singh bought out estranged spouse Neelu Analjit Singh's 24.1% stake in his holding company as part of the same family settlement. Post-settlement, he gained full ownership of Max Ventures and Investment Holding, which holds significant stakes in listed entities Max Financial, Max Estates, and Max India. Documents accessed by The Economic Times show that Rs 11.7 crore was paid as stamp duty and corporation tax for the transaction, which was registered earlier this month. Located in the heart of India's power corridor, the Lutyens' Bungalow Zone (LBZ) spans 28 sq km and houses around 3,000 bungalows, primarily occupied by ministers, judges, and senior government officials. Roughly 600 properties in the area are privately owned by some of India's wealthiest individuals. Designed by British architect Edwin Lutyens between 1912 and 1930, the LBZ remains one of the most exclusive and expensive real estate zones in the country. The transaction adds to a string of high-value deals in the LBZ, underscoring continued demand for trophy assets in India's most prestigious neighbourhood.
Time of India
24-05-2025
- Business
- Time of India
Analjit Singh transfers Lutyens' Delhi bungalow to Vstar Ventures in Rs 152-Crore internal deal
Synopsis Analjit Singh of Max Group has transferred a prime bungalow in Lutyens' Delhi to Vstar Ventures for Rs 152 crore as part of a family reorganisation. The transaction, involving Delhi Guest Houses Pvt Ltd and Vstar Ventures, both owned by Singh, includes a significant stamp duty payment.
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Business Standard
28-04-2025
- Business
- Business Standard
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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Business Standard
24-04-2025
- Business
- Business Standard
Max India up 3% as board approves to raise ₹125 crore through rights issue
Max India share price: Shares of Max India gained 3.1 per cent in trade, logging an intraday high at ₹230.7 per share on the BSE. The stock advanced after the company's board approved the issuance of equity shares on a rights basis. The company intends to raise up to ₹125 crore through a rights issue. At 12:56 PM, Max India shares were trading 1.07 per cent higher at ₹225.95 per share on the BSE. In comparison, the BSE Sensex was down 0.33 per cent at 79,853.68. The market capitalisation of the company stood at ₹984.90 crore. The 52-week high of the stock was at ₹337.6 per share and the 52-week low of the stock was at ₹170 per share. Max India rights issue: opening and closing dates The rights issue will open on Wednesday, May 7, 2025, and close on Thursday, May 22, 2025. The last date for on market renunciation is Friday, May 16, 2025. The "last date for on-market renunciation" refers to the final day on which you can sell your rights entitlements (REs) on the stock exchange's platform. Max India rights issue: Size The company will issue 82,81,973 fully paid-up equity shares of a face value of ₹10. The price for the issue is set as ₹150 per rights equity share (including a premium of ₹140 each) payable on application. ALSO READ | Max India rights issue: Allotment and record date Investors are entitled to receive 19 rights equity shares for every 100 shares held by eligible shareholders as of the record date. The record date for the rights issue is fixed as Tuesday, April 29, 2025. About Max India Max India is the holding company of Max Group's Senior Care business Antara -- an integrated solutions provider for all senior care needs. It operates across two lines of businesses – Antara Senior Living which includes independent-living Antara Senior Living, and Assisted Care services, including Care Homes, Care at Home services and Antara AGEasy– expert-assisted solutions for chronic conditions.
