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MaxVIL offers 1.55 cr shares to New York Life for Rs 121 cr

Press Trust of India  |  New Delhi 

Max Group's Max Ventures and Industries Ltd (MaxVIL) today said it has alloted over 1.55 crore equity for Rs 121.09 crore to New York Life International Holdings Ltd (NYL).

Earlier on February 7, MaxVIL had informed about the board approval regarding the same.

"The board allotted 1,55,23,870 equity of each to NYL at a price of Rs 78 aggregating up to Rs 121.09 crore," MaxVIL said in a regulatory filing.

The company also informed about the appointment of Arthur Seter as an additional, non-executive nominee of NYL, director of the company with effect from February 17.

Besides, the board alloted 34,48,894 warrants to Siva Enterprises Pvt Ltd (SEPL) for Rs 26.90 crore, the company said.

Stock of Max Ventures closed 0.12 per cent down at Rs 86.10 on

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, February 17 2017. 18:07 IST