Max India plans corporate restructuring

Diversified business group Max India today said it is considering a proposal for corporate restructuring.
"Management of the company is in the process of finalising a few options for corporate restructuring, which will be presented to investment and finance Committee (I&FC) for its consideration," Max India said in filing to the BSE.
The company is in the process of ascertaining the availability of directors to convene a meeting of the I&FC, it said.
Max India Group is a multi-business corporate which is into life insurance, healthcare, health insurance and speciality products for the packaging industry.
"Given the sensitivity around the proposal, we are contemplating to convene the meeting of I&FC and board of directors of the company on the same day, where management will propose the options to I&FC and it will recommend the preferred option to Board of Directors for their approval," it said.

Shares of the Max India closed at Rs 407.55 per unit, up 0.65 per cent on the BSE.