Insurance and health-care firm Max India Ltd has said the shareholders would meet on July 28 to take a final decision on raising Rs 450 crore through qualified institutional placement in one or more tranches.
The board of directors took a decision to convene the extra-ordinary general meeting of the shareholders on July 28 for this purpose, Max India said in a filing with the Bombay Stock Exchange.
On July 1, the board had rescinded its earlier decision of February 3, 2009, for issuing equity shares up to an amount of Rs 650 crore, on rights basis with detachable warrants, it said.
The company, which also operates in specialty plastic products segment, produces packaging films supported with polymers of propylene, leather finishing transfer foils and related products. The segment has a manufacturing facility located at Railmajra, Nawanshahr in Punjab.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app