Max Financial Services provides update on composite scheme of arrangment

Max India allots equity shares in ratio of 1:1

Max Financial Services announced that following the receipt of approval letter from Foreign Investment Promotion Board (FIPB), Max India, in its Board meeting held on 14 May 2016 allotted 26,69,83,999 equity shares of Rs. 2/- each in the ratio of one equity share of Rs. 2/- each of Max India for every one equity share of Rs. 2/- each held in Max Financial Services as on the Record Date, i.e. 28 January 2016, in terms of the sanctioned Scheme of Arrangement.

Max India is now in the process of taking requisite actions for listing the aforesaid equity shares.

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