Max India sponsors to increase shareholding by 4% to 45.12%

A portion of proceeds will be utilised to acquire a 3.75% stake in Max Healthcare

Max India Limited on Thursday announced that it will raise funds from its promoter — Max group’s founder and chairman emeritus Analjit Singh — by issuing warrants amounting to Rs 300 crore at Rs 154.76 per share of Max India, priced in accordance with regulatory guidelines. 

The total number of warrants issued will be 19,384,854 which translate to approximately four per cent stake in the company for the promoter. The promoter’s shareholding in the company will increase to 45.12 per cent as a result of this transaction.

A significant portion of the proceeds from this transaction will be utilised by Max India