Max India Limited has informed the Exchange about General Updates
MAXIND · price
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Max India Limited's board has approved a rights issue of 82,81,973 fully paid-up equity shares at ₹150 per share (including a premium of ₹140 over the ₹10 face value), raising approximately ₹124.23 crore assuming full subscription. Existing shareholders will be offered 19 rights shares for every 100 shares held, with the record date set for April 29, 2025 to determine eligibility. The issue opens on May 7, 2025 and closes on May 22, 2025, with the last date for on-market renunciation being May 16, 2025. Post-issue, the company's outstanding equity shares will rise from about 4.36 crore to 5.19 crore, a roughly 19% increase in share count on full subscription. The rights entitlements will be credited in demat form under a dedicated ISIN.
Eligible shareholders must subscribe (or let their rights lapse) to avoid dilution of their holding. The ex-rights price adjustment is likely to lower the market price in the short term, while the capital raise will strengthen the company's balance sheet. Shareholders should review the Letter of Offer and consider their own investment and liquidity needs before the issue closes on May 22, 2025.