Latest news with #RightsIssue
Business Standard
2 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
2 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
Economic Times
3 days ago
- Business
- Economic Times
Sobha shares in focus after Q4 profit jumps nearly 6-fold to Rs 41 crore
Sobha shares: For FY 2024–25, the company reported a net profit of ₹94.68 crore, a significant increase from ₹49.11 crore in the previous fiscal year, while total income rose to ₹4,162.75 crore from ₹3,217.88 crore. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Sobha share price outlook Shares of real estate developer Sobha will be in focus on Friday after the company reported a nearly six-fold jump in consolidated net profit to Rs 40.85 crore for the quarter ended 31 March 2025, up from Rs 7.02 crore in the same period last year, driven by higher income rose to Rs 1,270.73 crore in Q4FY25, compared to Rs 791.25 crore a year earlier, according to a regulatory the full fiscal year 2024-25, net profit rose to Rs 94.68 crore, up from Rs 49.11 crore in FY24, while total income grew to Rs 4,162.75 crore from Rs 3,217.88 Nangineni, Managing Director of Sobha , said the fourth quarter reflected 'steady and encouraging progress' driven by strong sales, successful project launches, solid revenue growth, and healthy cash added that the recent Rights Issue has further strengthened the company's financial position, allowing it to stay focused on execution and expansion. 'With the real estate sector continuing to perform well, we see strong potential in the year ahead. The current financial year looks promising, with a robust pipeline of project launches and our planned entry into new cities,' Nangineni in 1995, Sobha has delivered over 143.65 million square feet of developable area across 27 Indian to Trendlyne, the average target price for Sobha is Rs 1,581, suggesting a potential upside of nearly 14% from current levels. Of the 17 analysts tracking the stock, the consensus rating is 'Buy'. Sobha shares have declined 17% over the past six months but are up 181% over the past two years. The company's current market capitalisation stands at Rs 14,834 crore.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Time of India
3 days ago
- Business
- Time of India
Sobha shares in focus after Q4 profit jumps nearly 6-fold to Rs 41 crore
Sobha shares: For FY 2024–25, the company reported a net profit of ₹94.68 crore, a significant increase from ₹49.11 crore in the previous fiscal year, while total income rose to ₹4,162.75 crore from ₹3,217.88 crore. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Sobha share price outlook Shares of real estate developer Sobha will be in focus on Friday after the company reported a nearly six-fold jump in consolidated net profit to Rs 40.85 crore for the quarter ended 31 March 2025, up from Rs 7.02 crore in the same period last year, driven by higher income rose to Rs 1,270.73 crore in Q4FY25, compared to Rs 791.25 crore a year earlier, according to a regulatory the full fiscal year 2024-25, net profit rose to Rs 94.68 crore, up from Rs 49.11 crore in FY24, while total income grew to Rs 4,162.75 crore from Rs 3,217.88 Nangineni, Managing Director of Sobha , said the fourth quarter reflected 'steady and encouraging progress' driven by strong sales, successful project launches, solid revenue growth, and healthy cash added that the recent Rights Issue has further strengthened the company's financial position, allowing it to stay focused on execution and expansion. 'With the real estate sector continuing to perform well, we see strong potential in the year ahead. The current financial year looks promising, with a robust pipeline of project launches and our planned entry into new cities,' Nangineni in 1995, Sobha has delivered over 143.65 million square feet of developable area across 27 Indian to Trendlyne, the average target price for Sobha is Rs 1,581, suggesting a potential upside of nearly 14% from current levels. Of the 17 analysts tracking the stock, the consensus rating is 'Buy'. Sobha shares have declined 17% over the past six months but are up 181% over the past two years. The company's current market capitalisation stands at Rs 14,834 crore.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Time of India
3 days ago
- Business
- Time of India
Sobha posts net profit of ₹40.85 crore in Q4 FY25
NEW DELHI: Sobha has reported net consolidated profit after tax of ₹40.85 crore during the quarter ended March 31, 2025. Its profit stood at ₹7.02 crore in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company's net consolidated total income stood at ₹1,270.73 crore in Q4 FY25, a growth of 60.60 per cent from ₹791.25 crore it recorded in the similar quarter last year. Jagadish Nangineni , managing director of the company said, "The Rights Issue has further strengthened our financial position, enabling us to stay focused on execution and expansion. The current financial year looks promising, with a robust pipeline of project launches and our planned entry into new cities." The board of directors recommended a dividend of ₹3 (30%) per equity share for the financial year ended March 31, 2025. Revenue grew by 29% year-on-year to ₹41.63 billion in FY25 from ₹32.18 billion in FY24. Collections for Q4 FY25 stood at ₹17.85 billion, registering a 7% year-on-year increase. Total collections for FY25 reached ₹61.84 billion. Average price realization increased by 23% year-on-year, reaching ₹13,412 per sq ft in FY25.
