Max India raises Rs 150 cr via allotment of shares
BS Reporter / Mumbai Jun 22, 2009, 18:54 IST
Diversified business house Max India today said it has raised Rs 150 crore through issue of shares to the World Bank group member International Finance Corporation (IFC).
In a filing to the Bombay Stock Exchange, the company said it has alloted over 1.03 crore shares at a price of Rs 145.26 a piece, aggregating to Rs 150 crore to IFC on preferential basis.
Earlier this month, the shareholders had approved the raising of Rs 150 crore on preferential basis for meeting funding requirements.
The objects of the issue through preferential offer is to meet the general funding requirements of subsidiaries of the company, including for investment in Max Healthcare Institute for expansion of healthcare business, Max India had said.
The group is engaged in healthcare, IT services and financial services.
Shares of Max India closed at Rs 206.10, down 0.15 per cent on the BSE.
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