Newspaper advertisement regarding proposed Rights Issue of the Fully Paid-up EquityShares of Max India Limited ( the Company ).
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Max India Limited has published a newspaper advertisement on May 1, 2025, in Business Standard (English and Hindi) and Navakal (Marathi) regarding its proposed Rights Issue. The company plans to issue up to 82,81,973 equity shares of face value Rs. 10 each at a price of Rs. 150 per share (including a premium of Rs. 140), aggregating up to Rs. 12,422.96 lakhs (around Rs. 124 crore). Existing shareholders can subscribe in the ratio of 19 Rights Equity Shares for every 100 shares held as on the record date of April 29, 2025. The issue opens on May 7, 2025, and closes on May 22, 2025, with the last date for on-market renunciations being May 16, 2025. The Rights Issue Committee approved the Final Letter of Offer on April 25, 2025.
Eligible shareholders must act before May 22, 2025, to either subscribe, renounce, or let their rights entitlements lapse. The issue price of Rs. 150 represents a significant premium over the face value, and shareholders should compare it with the prevailing market price to decide whether subscribing is beneficial. The rights issue could lead to short-term dilution of existing shareholdings if not fully subscribed.