Max India Limited has informed the Exchange regarding Notice of Postal Ballot
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Max India Limited has sent a Postal Ballot notice to shareholders seeking approval for a material Related Party Transaction (RPT) between its wholly-owned subsidiary Antara Senior Living Limited (ASLL) and Max Estates Gurgaon Two Limited (MEGL2), a wholly-owned subsidiary of group company Max Estates Limited. Under the arrangement, ASLL will manage about 1 million sq ft of senior living space within Max Estates' ~18-acre, ~4 million sq ft 'LiveWell' development in Sector 36A, Gurugram, and will receive a fee of 9.5% of Net Sales Revenue from the senior living project. The estimated value for FY 25-26 is up to Rs. 20 crore (plus taxes), representing about 13.75% of Max India's consolidated turnover and around 89.64% of ASLL's standalone turnover for FY25. The transaction has been benchmarked by CBRE as meeting arm's length criteria. E-voting runs from June 11, 2025 (9:00 AM) to July 10, 2025 (5:00 PM), with the cut-off date set at June 6, 2025. Related parties are not permitted to vote on this resolution.
Shareholders are being asked to approve a sizable intra-group transaction that, while within ordinary course of business and arm's length tested, is significant for ASLL (~90% of its turnover). Approval is needed for the project to proceed as planned; rejection could delay or alter the senior living component of the Gurugram development. Outcome of voting will be declared on or before the result announcement date.