 "Max India up 3% as board approves to raise ₹125 crore through rights issue")
Max India share price: Shares of Max India gained 3.1 per cent in trade, logging an intraday high at ₹230.7 per share on the BSE. The stock advanced after the company's board approved the issuance of equity shares on a rights basis. The company intends to raise up to ₹125 crore through a rights issue.
At 12:56 PM, Max India shares were trading 1.07 per cent higher at ₹225.95 per share on the BSE. In comparison, the BSE Sensex was down 0.33 per cent at 79,853.68. The market capitalisation of the company stood at ₹984.90 crore. The 52-week high of the stock was at ₹337.6 per share and the 52-week low of the stock was at ₹170 per share.
Max India rights issue: opening and closing dates
The rights issue will open on Wednesday, May 7, 2025, and close on Thursday, May 22, 2025. The last date for on market renunciation is Friday, May 16, 2025.
The "last date for on-market renunciation" refers to the final day on which you can sell your rights entitlements (REs) on the stock exchange's platform.
Max India rights issue: Size
The company will issue 82,81,973 fully paid-up equity shares of a face value of ₹10. The price for the issue is set as ₹150 per rights equity share (including a premium of ₹140 each) payable on application. ALSO READ | Pakistan Stock Exchange crashes 2,565 pts as tensions mount after Pahalgam Terror Attack
Max India rights issue: Allotment and record date
Investors are entitled to receive 19 rights equity shares for every 100 shares held by eligible shareholders as of the record date. The record date for the rights issue is fixed as Tuesday, April 29, 2025.
About Max India
Max India is the holding company of Max Group’s Senior Care business Antara -- an integrated solutions provider for all senior care needs. It operates across two lines of businesses – Antara Senior Living which includes independent-living Antara Senior Living, and Assisted Care services, including Care Homes, Care at Home services and Antara AGEasy– expert-assisted solutions for chronic conditions.
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