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Max India trades higher on the BSE

Mumbai : Max India is currently trading at Rs. 66.20, up by 1.65 points or 2.56% from its previous closing of Rs. 64.55 on the BSE. The scrip opened at Rs. 65.80 and has touched a high and low of Rs. 66.60 and Rs. 65.00 respectively. So far 3597 shares were traded on the counter. The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 95.20 on 21-Aug-2018 and a 52 week low of Rs. 55.00 on 21-Nov-2018.

Last one week high and low of the scrip stood at Rs. 68.65 and Rs. 63.00 respectively. The current market cap of the company is Rs. 1778.57 crore. The promoters holding in the company stood at 40.93%, while Institutions and Non-Institutions held 43.61% and 15.46% respectively. Radiant Life Care, a leading Indian hospital management company promoted by Abhay Soi and backed by KKR, has completed the acquisition of 49.7% stake in Max Healthcare Institute, a joint venture between Max India and Life Healthcare, from South Africa-based hospital operator Life Healthcare. Abhay Soi will now lead Max Healthcare as Chairman of its Board and Executive Council.

As part of the transaction, Max India’s promoters have received an advance of Rs 361 crore from KKR in exchange for a 4.99% stake in the merged entity. Max India’s promoters have used the funds for deleveraging purposes. Max India is engaged in the business of investments and providing consultancy services to group companies. The company’s segments are Healthcare Business, Business Investments, Health Insurance, Senior Living and Others.

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