This section is dedicated to our shareholders and investors.

All queries relating to investor services may please be directed to our dedicated Investor Helpline.
All queries relating to equity shares should be addressed to the Share Transfer Agent.
While sending queries / grievances, investors should quote the Folio Number, the Client ID and Depository Participant ID, Certificate Number, and full address including pin code and telephone / fax number, if any.

Address your queries to our dedicated Investor Helpline:
or direct your queries to:

Mr. V. Krishnan
Max India Limited,
Max House,
1, Dr. Jha Marg,
New Delhi 110 020
Telephone: +91 11 26933601-10
Fax: +91 11 26324126

Share Transfer Agent
MAS Services Limited,
Plot No. T-34,
Okhla Industrial Area, Phase –II
New Delhi 110 020.
Telephone : +91 11 26387381-83
Fax : +91 11 26387384
E-mail :

Dematerialization (DEMAT) of Shares
Shareholders can avail of the dematerialization facility by opening a Depository Account with a Depository Participant of their choice. At present, the following stock exchanges are linked to the Depositories to facilitate dematerialized securities: NSE, Mumbai, Delhi, Bangalore, Madras, Ludhiana, Ahmedabad, the OTC Exchange of India and inter-connected Stock Exchanges.

Procedure for Dematerialization of Shares

  • Shareholder to open an account with a Depository Participant (DP) of choice. Arrangements have also been made with HDFC Bank to work as DP, the participating branches are listed below
  • Surrender defaced certificates along with Dematerialization Request Form (DRF) to the DP
  • DP intimates NSDL / CDSL of the request
  • DP submits the certificate with the DRF to the Share Transfer Agent
  • The Share Transfer Agent confirms the dematerialization with NSDL / CDSL, validates the request, updates records and informs the applicant
  • NSDL/CDSL credits the DP's account and informs the DP
  • DP updates the shareholder's account and informs the shareholder

Procedure for Rematerialization of Shares

  • Shareholder to submit Rematerialization Request Form (RRF) to the DP
  • DP intimates NSDL / CDSL of the request and submits the RRF to the Share Transfer Agent
  • NSDL / CDSL confirms rematerialization request to the Share Transfer Agent who updates accounts, prints certificates and informs NSDL / CDSL
  • NSDL / CDSL updates accounts and downloads details to DP
  • Share Transfer Agent dispatches certificates to the shareholder

Procedure for Purchase of Dematerialized Shares

  • Investor places an order with his broker, who in turn issues a contract note
  • The broker instructs his DP to debit his Clearing Member (CM) account
  • At the time of settlement, the broker makes payment to Clearing Corporation / Clearing House (CC / CH) via the clearing bank
  • The CC / CH releases shares to the broker's CM account, which are then transferred to the investor's account via NSDL / CDSL
  • Investor's account gets credited

Procedure for Sale of Dematerialized shares

  • The investor places an order for sale of shares with a broker
  • The broker issues a contract note to the investor
  • The investor instructs the DP to debit his account
  • The shares move from the investor's account to the broker's Clearing Member (CM) account via NSDL / CDSL. The broker's CM account is credited
  • At the time of settlement, the broker transfers his CM account to CC / CH, his account is debited, and the broker receives payment from the CC / CH, which is passed on to the investor

Procedure for disbursement of corporate benefits

  • NSDL/ CDSL will provide details of beneficial owners (investors in demat segment) with reference to the record date / book closure date
  • In the case of dividend payment, the Company will disburse the dividend by sending dividend warrants directly to the beneficial owners - similar to the manner followed in the physical system
  • In case of other corporate benefits like rights / bonus issues, the distribution is in electronic form through NSDL / CDSL
  • The investors should ensure that their accounts are credited for purchases before the record date / book closure, as the case may be, to be entitled to all corporate benefits

Arrangement with HDFC Bank Limited for demat / remat of Company's Shares
While a shareholder is free to open a Depository Account with a DP of his choice, the Company has made arrangements with HDFC Bank to facilitate members to open demat account without making any payment towards account opening, dematerialization and custodial charges.

Under this arrangement:

  • The charges waived are

- Account opening charges
- Dematerialization charges
- Annual asset holding charges

  • Charges not waived are

- Standard charges for holding shares of other companies in this account
- Standard charges for dematerializing shares of other companies
- Other charges that the bank may levy from time to time

  • If the investor has already opened an Depository Account with HDFC Bank, the charges waived would be

- Dematerialization charges
- Annual asset holding charges

  • If the investor chooses to open a Depository Account with another DP
    In view of the one-time payment made by the Company towards custodial charges to NSDL, the other DP would not charge that component of annual asset holding charges which is paid by the DPs to NSDL

List of HDFC Bank branches where the facility is available:

HDFC Bank 1st Floor,
HDFC House,
Near Mithakhali Six Roads,
Ahmedabad 380 009
Phone: 656 3465, 6564932-33
Fax : 656 3464

HDFC Bank Arun Complex 36,
Alkapuri Society C. Dutt Road,
Baroda - 390 005.
Phone: 341131
Fax : 341142

HDFC Bank S.C.O. 371-372,
Sector - 35-B,
Chandigarh - 160035
Phone: 646154-56,
Fax: 646229

HDFC Bank Damodar Centre
1049-50 Avanashi Road,
Coimbatore - 641 018
Phone : 521212

HDFC Bank UB house,
Ground Floor,
9/lA, South Tukogung,
Phone: 521212

HDFC Bank LGF-1,
First Mall, The Mall,
Ludhiana - 141001
Phone: 422341 / 42
Fax: 422345

HDFC Bank,
Tulsiani Chambers,
1st Floor; Free Press Journal Road,
Nariman Point
Mumbai - 400021
Phone 2876501, 2855121
Fax : 2855949

HDFC Bank,
The Amaltas Co-op Society Ltd.
Juhu Versova Link Road, Andheri (W),
Mumbai 400 049
Phone: 6250740, 6250741
Fax: 6288165

HDFC Bank,
S-18, Mulund Industrial Services
G.H.S.L. Nahur Road,
Opp. Galanagar Mulund (West):
Mumbai 400080
Phone 5907237, 5907239

HDFC Bank,
Plot No. 148/B,
Netrali Apartments CJS No.309,
Shivaji Nagar,
Law College Road,
Pune:411 004
Phone : 350678, 351334
Fax : 350720

HDFC Bank,
24/3 HDFC House,
No.51 Kasturba Road,
Bangalore 560 001
Phone :227 5571-75
Fax :2216874

HDFC Bank Stephen House,
56, D Hemantu Basu Sarani,
Kolkata - 700 001
Phone: 2210816, 2210817
Fax: 2210819

HDFC Bank 168/A Mount Road,
Lufthansa Bldg.
Chennai 600 002
Phone: 8585858
Fax: 8550233

HDFC Bank 6-1-70,
Hotel Ashok Complex,
Lakdi Ka Pul,
Hyderabad 500 004
Phone : 230471
Fax: 230349

HDFC Bank HDFC Annexee,
M.G. Road, Ravipuram, Kochi 682 016
Phone: 380364
Fax: 380394

HDFC Bank Sandoz House,
Dr. A. B. Road, Worli,
Mumbal 400 018
Phone :495 1616 Ext. - 1107
Fax 4960737

HDFC Bank,
Shop No.3, Gr. Floor;
Pali Hill, Navroz Premises C.S.L. 66, Pali Hill Road,
Bandra (West)
Mumbai 400 050
Fax : 6041964

HDFC Bank,
Kamala Mills Compound,
1st Floor, Senapati Bapat Marg,
Lower Parel,
Mumbai. Phone : 4961616
Fax : 4929722

New Delhi
HDFC Bank,
Hindustan Times House,
5th Floor, 1 8/20 Kasturba Gandhi Marg,
New Delhi - 110001
Phone : 3731212
Fax : 3725993