Max Ventures and Industries enters into agreement to invest in Azure Hospitality

To invest Rs 33.50 crore for 11.17% stake in Azure Hospitality

Max Ventures and Industries announced that its subsidiary, Max I. on 08 July 2016 entered into definitive agreements to subscribe to 7,615,947 (Seven Million Six Hundred and Fifteen Thousand Nine Hundred and Forty Seven) compulsorily convertible debentures and 100 (One Hundred) equity shares of Azure Hospitality, amounting to 11.17% of the paid up share capital of Azure Hospitality (on a fully diluted basis) for an aggregate consideration of Rs. 33.50 crore (Transaction).

The completion of the aforesaid Transaction is subject to completion of certain mutually agreed conditions precedent

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