Max India to raise Rs 150 cr via equity issue to IFC

Diversified firm Max India today said it will issue shares worth Rs 150 crore to US-based International Finance Corporation on preferential allotment basis.       

The board of directors of the company at its meeting has approved the issuance of 10,326,311 shares at Rs 145.26 a piece, aggregating to Rs 150 crore to International Finance Corporation, US.    

Max India has interest in IT, healthcare, financial services among others.     

IFC is a member of the World Bank Group which provides investments and advisory services to private sector in developing countries.     

Shares of Max India closed at Rs 142, down 0.46 per cent on the BSE.