Max India Limited has informed the Exchange about General Updates
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Max India Limited has completed the sale of three office floors (L19, L20 and L20M) at Max Towers, Sector 16-B, Noida, covering about 60,561 square feet, to Max Towers Private Limited (MTPL), a subsidiary of Max Estates Limited, which is another listed company within the same promoter group. The total sale consideration is Rs. 105.08 Crores. The transaction was earlier approved by shareholders of Max India through a postal ballot on January 29, 2025, and has now been formally concluded on May 9, 2025 at around 2:00 PM IST.
This is the completion of a previously disclosed related-party property sale, so it is unlikely to surprise the market. Shareholders had already approved the deal, and the cash inflow of Rs. 105 Crores from this property sale could marginally strengthen Max India's balance sheet, but the overall impact on the stock price is expected to be neutral.