We wish to inform you that the Board of Directors of the Company in its meeting held today i.e. April 15, 2025, has, inter-alia, considered and approved the following:(i) The request received from Ms. Neelu Analjit Singh, belonging to the 'Promoter and Promoter Group' holding 20,000 equity shares, to reclassify her status from 'Promoter and Promoter Group' to 'Public' category.(ii) Raising of funds through the issuance of equity shares of face value ₹10 each by way of rights issue for an amount not exceeding Rs 125 Crore.

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Price reactionminutes from the announcement price · days from the prior close

+6.8%Reaction day

₹200.25

prior close

₹204.00

announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.8%+6.0% vs market

Holding Company peers, median of 13sector+2.2%+4.6% vs sector

On the reaction day the stock moved 6.0 pts more than Nifty Microcap 250 and 4.6 pts more than its Holding Company peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Reaction day

+6.8+0.8+6.0+2.2+4.6

Next day

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UpDownMarket · Nifty Microcap 250Sector · Holding Company peers, median of 13Pending

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AI summary

Max India Limited's board, which met on April 15, 2025, approved two key items. First, Ms. Neelu Analjit Singh, who holds 20,000 equity shares, has been reclassified from the 'Promoter and Promoter Group' to the 'Public' category, following a January 2025 settlement agreement with Mr. Analjit Singh and the dissolution of their marriage by the Patiala House Court in February 2025. Control of the company remains with Mr. Analjit Singh and other existing promoters. Second, the board approved raising funds of up to Rs 125 Crore through a rights issue of equity shares with a face value of Rs 10 each, to be offered to eligible shareholders as on a record date yet to be announced. The issue price, entitlement ratio, and timeline are still to be decided.

Likely market impact

The rights issue of up to Rs 125 Crore will raise fresh capital for the company but will dilute existing shareholders' stakes unless they fully subscribe. The promoter reclassification is a procedural change reflecting a family settlement and is not expected to materially affect overall promoter control of the company.