Announcement under Regulation 30 of SEBI LODR
MAXIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Max India's Board of Directors approved four key items at its May 28, 2026 meeting. First, it reappointed MGC Global Risk Advisory LLP as Internal Auditors for FY 2026-27. Second, it amended the Company's Related Party Transaction policy. Third, the Board approved reallocation of Rs. 124.23 crore in unutilized Rights Issue proceeds — shifting Rs. 7.30 crore more to the Products vertical (now Rs. 50.3 crore), reducing Services vertical by Rs. 3.80 crore (to Rs. 8.2 crore) and Brand marketing by Rs. 3.50 crore (to Rs. 6.5 crore), all within the original issue objects and subject to shareholder approval. Fourth, the Board approved issuance of corporate guarantees up to Rs. 75 crore in favour of lenders to wholly-owned subsidiaries Antara Senior Living Limited and Antara Assisted Care Services Limited for their proposed loan facilities. The guarantees are at arm's length with no immediate financial impact as they remain contingent liabilities.
The corporate guarantees of Rs. 75 crore to subsidiaries represent a contingent liability that shareholders should monitor, as it creates off-balance sheet exposure. The Rights Issue reallocation shifts marketing spend toward products, suggesting a strategic emphasis on product performance over brand and services marketing.