Max India Limited has informed the Exchange regarding 'Outcome of Board Meeting Dated May 28, 2026'.
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Max India Limited's Board of Directors met on May 28, 2026 and approved four items. First, MGC Global Risk Advisory LLP was re-appointed as Internal Auditor for FY 2026-27. Second, the Company amended its Related Party Transaction policy. Third, the Board approved reallocation of Rs. 124.23 crore of unutilised proceeds from the Rights Issue — shifting Rs. 7.30 crore more to the Products vertical, reducing Services vertical by Rs. 3.80 crore and Brand Marketing by Rs. 3.50 crore — pending shareholder approval. Fourth, the Company 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 proposed term loan facilities. The insider trading window, closed since April 1, 2026, will remain shut until 48 hours after the Q4 FY26 results are declared (up to May 30, 2026).
The corporate guarantees create a contingent liability of up to Rs. 75 crore for Max India, though no immediate financial impact is expected as it relates to subsidiary debt. The reallocation of rights issue proceeds is a routine rebalancing within the issue's stated objects and requires shareholder sign-off.