Max India sets stage for Growth with Rs 150 Rights Issue Price

Max India Limited has set the price for its upcoming rights issue at Rs 150 per share. The company, in its strategy to raise up to Rs 125 crore by way of equity shares, has done this. The rights issue will be open to eligible shareholders from the record date, which remains to be determined. The specific terms, including entitlement ratio, payment terms, and timing, will be announced as required by regulations.

 

This comes after Max India's recent investment of Rs 7.03 crore by its wholly owned subsidiary Antara Senior Living in Max Estates Noida, buying a 10 percent equity stake. Max India, with its senior care services under the Antara brand name, has been gearing up to increase its presence in the segment.

 

The firm recorded a consolidated net loss of Rs 44.60 crore during Q3 FY25, down from Rs 17.90 crore for the same quarter last year. Net sales also dropped 12.3 percent year-on-year, landing at Rs 39.64 crore during Q3 FY25. All these notwithstanding, the rights issue is viewed as a measure aimed at improving its financial standing and financing future growth plans.

 

Sources: Business Standard, Steel City Securities, Tradebrains Portal.