MAXIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Max India Limited raised Rs. 124.23 crore through a Rights Issue in May 2025, with the issue period running from May 7 to May 22, 2025. CARE Ratings, acting as the Monitoring Agency, submitted a report for the quarter ended June 30, 2025, confirming no deviation from the stated objects of the issue. During Q1FY26, the company utilized only Rs. 7.12 crore of the total proceeds, leaving Rs. 117.11 crore unutilized. The deployed funds went toward investing in subsidiary Antara Assisted Care Services Limited (Rs. 5.32 crore for branding/marketing and working capital) and Rs. 1.80 crore toward issue-related expenses. The unutilized Rs. 117.11 crore is parked in fixed deposits across banks like HDFC, Kotak, IDFC First, Yes Bank, and AU Small Finance (Rs. 105 crore earning 6-7.85% interest), with the balance in monitoring accounts. Promoter group holds 50.16% stake as of June 30, 2025.
This is a routine compliance filing with no negative surprises — funds are being used as originally disclosed and idle money is earning interest through bank FDs. However, the slow pace of deployment (only about 5.7% utilized in the first quarter) is neutral for shareholders, as full deployment is scheduled by March 2027.