MAXIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Max India Limited has submitted its Q4FY26 monitoring agency report for the Rs. 124.23 crore Rights Issue (May 2025). CARE Ratings, the monitoring agency, confirms no deviation in the utilization of proceeds. As of March 31, 2026, Rs. 80.91 crore has been utilized out of Rs. 124.23 crore raised, with Rs. 43.32 crore remaining unutilized (invested in fixed deposits with banks like Kotak Mahindra, HDFC, IDFC First, Yes Bank, and AU Small Finance Bank). The funds were deployed for investment in subsidiary Antara Assisted Care Services Limited (AACSL) for branding/marketing (Rs. 42 crore utilized) and working capital (Rs. 26.83 crore), plus general corporate purposes (Rs. 9.70 crore) and issue expenses (Rs. 2.38 crore). The monitoring agency flagged that the company incurred losses of Rs. 140 crore in FY25 and Rs. 103 crore in 9MFY26.
No red flags on fund utilization – proceeds are being deployed as per the Letter of Offer. However, the significant losses incurred by the company despite the rights issue proceeds warrant attention from investors regarding the subsidiary AACSL's business viability.