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Business Standard
5 days ago
- Business
- Business Standard
Max India Limited's Rights Issue: 1.45 Times Oversubscription Signals Strong Investor Confidence
NewsVoir New Delhi [India], May 31: Max India Limited (MIL) has announced the successful closure of its Rights Issue, raising Rs. 124.23 crore through the issuance of 82,81,973 fully paid-up equity shares at Rs. 150 per share. The offering was oversubscribed, signalling strong investor support for the company's strategic direction, leadership, and long-term vision to build an integrated platform offering lifecare and lifestyle products and services designed to enhance the quality of life for seniors. This is also indicative of stronger-than-anticipated investor interest, and reaffirms market confidence in Max India Limited's expanding portfolio through its subsidiaries across senior residences, assisted living, and technology-led platform for managing chronic conditions. Speaking about the Rights Issue, Tara Singh Vachani, Vice-Chairperson, Max India Limited, and Executive Chairperson, Antara Senior Living, said, "This oversubscription reflects strong validation of our long-term vision and the value we're creating in the senior care space. We remain focused on delivering long-term value to all stakeholders." Rajit Mehta, Managing Director, Max India Limited, said, "We're grateful to our shareholders and investors for their continued trust and confidence. This capital will help us accelerate our next phase of growth and strengthen our market position." The announcement of the Rights Issue was met with positive market sentiment, with Max India Limited's stock seeing a 3% uptick on the day of board approval. Capital Allocation and Strategic Priorities The funds raised through the Rights Issue will be deployed towards growth of its wholly owned subsidiary Antara Assisted Care Services Limited (AACSL) and will be utilised for sales, marketing and to meet working capital requirement. The balance will be utilised for general corporate purposes. This capital infusion supports Max India's broader strategy to build and scale a senior-centric health and wellness platform. The company remains focused on delivering top-line growth, margin improvement, and sustainable value creation. With the successful closure of the Rights Issue, Max India Limited has strengthened its balance sheet and is better positioned to capitalize the emerging opportunities in the senior care ecosystem. The company remains committed to delivering high-quality, people-centric care while building long-term value for its stakeholders. MIL is the holding company of Max Group's Senior Care business i.e. Antara Senior Living Limited (Residences for Seniors) and Antara Assisted Care Services Limited (Care Homes, Care at Home, and AGEasy). Max India investor list includes: Habrok Capital, Aionios Alpha, Avener Capital, Value Prolific, Rohit Lala, Ullhas Paymaster, Murugu Selvan K, Porinju Veliyath, Ritesh Oswal and Chetan Jayantilal Shah. For more information about Max India, please visit Launched in 2013, Antara is the senior-care business of Max India Limited, part of the $5 billion Max Group. It is an integrated ecosystem for senior care, operating in two main lines of businesses - Residences for Seniors and Assisted Care Services. Antara's first senior residential community in Dehradun comprising nearly 200 families, caters to their social, recreational, educational, wellness, and health-related needs. It will open its second senior living community in Noida's Sector-150 with families moving into the 340 apartments built in the first phase as and when statutory approvals will be in place. Expanding its footprint in Gurugram, Antara will manage senior living residences, dedicated spaces for senior living, and primary healthcare services at Estate 360 - Delhi-NCR's first intergenerational community developed by Max Estates. Antara's Assisted Care Services include 'Care Homes', 'Care at Home' and 'AGEasy'. This line of business caters to seniors, who need more immersive interventions in their daily lives due to medical or age-related issues. With facilities across Gurgaon, Noida and Bengaluru, the Care Homes provide long-term care to seniors who require constant medical and nursing supervision, and short-term care services for the recuperation of seniors. Its Care at Home services, offered in Delhi-NCR, Bengaluru and Chennai, provides well-equipped, trained professionals offering care to seniors inside their home's comfort. AGEasy - an online and offline store - focuses on senior specific products and solutions to manage chronic health conditions.
Fashion Value Chain
5 days ago
- Business
- Fashion Value Chain
Max India Limited's Rights Issue: 1.45 Times Oversubscription Signals Strong Investor Confidence
Max India Limited (MIL) has announced the successful closure of its Rights Issue, raising Rs. 124.23 crore through the issuance of 82,81,973 fully paid-up equity shares at Rs. 150 per share. The offering was oversubscribed, signalling strong investor support for the company's strategic direction, leadership, and long-term vision to build an integrated platform offering lifecare and lifestyle products and services designed to enhance the quality of life for seniors. This is also indicative of stronger-than-anticipated investor interest, and reaffirms market confidence in Max India Limited's expanding portfolio through its subsidiaries across senior residences, assisted living, and technology-led platform for managing chronic conditions. Speaking about the Rights Issue, Tara Singh Vachani, Vice-Chairperson, Max India Limited, and Executive Chairperson, Antara Senior Living, said,'This oversubscription reflects strong validation of our long-term vision and the value we're creating in the senior care space. We remain focused on delivering long-term value to all stakeholders.' Rajit Mehta, Managing Director, Max India Limited, said,'We're grateful to our shareholders and investors for their continued trust and confidence. This capital will help us accelerate our next phase of growth and strengthen our market position.' The announcement of the Rights Issue was met with positive market sentiment, with Max India Limited's stock seeing a 3% uptick on the day of board approval. Capital Allocation and Strategic Priorities The funds raised through the Rights Issue will be deployed towards growth of its wholly owned subsidiary Antara Assisted Care Services Limited (AACSL) and will be utilised for sales, marketing and to meet working capital requirement. The balance will be utilised for general corporate purposes. This capital infusion supports Max India's broader strategy to build and scale a senior-centric health and wellness platform. The company remains focused on delivering top-line growth, margin improvement, and sustainable value creation. With the successful closure of the Rights Issue, Max India Limited has strengthened its balance sheet and is better positioned to capitalize the emerging opportunities in the senior care ecosystem. The company remains committed to delivering high-quality, people-centric care while building long-term value for its stakeholders. About Max India MIL is the holding company of Max Group's Senior Care business i.e. Antara Senior Living Limited (Residences for Seniors) and Antara Assisted Care Services Limited (Care Homes, Care at Home, and AGEasy). Max India investor list includes: Habrok Capital, Aionios Alpha, Avener Capital, Value Prolific, Rohit Lala, Ullhas Paymaster, Murugu Selvan K, Porinju Veliyath, Ritesh Oswal and Chetan Jayantilal Shah. For more information about Max India, please visit About Antara Senior Care Launched in 2013, Antara is the senior-care business of Max India Limited, part of the $5 billion Max Group. It is an integrated ecosystem for senior care, operating in two main lines of businesses – Residences for Seniors and Assisted Care Services. Antara's first senior residential community in Dehradun comprising nearly 200 families, caters to their social, recreational, educational, wellness, and health-related needs. It will open its second senior living community in Noida's Sector-150 with families moving into the 340 apartments built in the first phase as and when statutory approvals will be in place. Expanding its footprint in Gurugram, Antara will manage senior living residences, dedicated spaces for senior living, and primary healthcare services at Estate 360 – Delhi-NCRs first intergenerational community developed by Max Estates. Antara's Assisted Care Services include 'Care Homes', 'Care at Home' and 'AGEasy'. This line of business caters to seniors, who need more immersive interventions in their daily lives due to medical or age-related issues. With facilities across Gurgaon, Noida and Bengaluru, the Care Homes provide long-term care to seniors who require constant medical and nursing supervision, and short-term care services for the recuperation of seniors. Its Care at Home services, offered in Delhi-NCR, Bengaluru and Chennai, provides well-equipped, trained professionals offering care to seniors inside their home's comfort. AGEasy – an online and offline store – focuses on senior specific products and solutions to manage chronic health conditions. For more information about Antara Senior Care, please visit
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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.
