Max India up on pref issue to Warburg Pincus

DALAL STREET SPIKES

A preferential allotment to Warburg Pincus at a huge premium to the current market price lifted the share price of Max India. The scrip was locked at the 20 per cent upper circuit limit at Rs 165.95.

The counter witnessed a volume of 1.69 lakh shares on the BSE. On Sunday Max India's board had approved a preferential issue of one crore equity shares at Rs 200 per share "� a 44 per cent premium to Friday's closing price of Rs 138.30.