Outcome of Board Meeting Dated May 28, 2026
MAXIND · price
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Max India Limited's Board of Directors met on May 28, 2026 and approved four items. First, the company re-appointed M/s MGC Global Risk Advisory LLP as Internal Auditors for FY 2026-27. Second, the Related Party Transaction policy was amended. Third, the Board approved reallocation of Rs. 124.23 Crore of unutilized Rights Issue proceeds, shifting Rs. 7.30 Crore more to Products vertical marketing (now Rs. 50.3 Crore) while reducing Services vertical by Rs. 3.80 Crore and Brand marketing by Rs. 3.50 Crore. Fourth, the company approved issuance of corporate guarantees up to Rs. 75 Crores for wholly owned subsidiaries Antara Senior Living Limited and Antara Assisted Care Services Limited to support their proposed loan facilities. The trading window remains closed until May 30, 2026.
The corporate guarantee for subsidiaries represents a contingent liability but has no immediate financial impact. The reallocation of Rights Issue proceeds reflects a strategic shift toward performance marketing for products. Overall, these are routine corporate actions with limited direct impact on the stock in the near term.