Max India issues fresh shares post demerger – Relisting of shares expected in August ‘20
- Existing shareholders have now been allotted new ‘Max India’ and ‘Max Healthcare’ shares
- All shareholders as on Record Date of 15 June 2020 allotted shares of two companies
New Delhi, 2 July 2020 – Max India Limited (till recently known as Advaita Allied Health Services Limited), a part of the USD 3 bln Max Group, announced that it had allotted shares to existing shareholders of erstwhile Max India Limited. The share allotment is an integral part of the demerger and listing process. Each new ‘Max India’ shareholder has been allotted one share of face value Rs 10/- for every five shares of face value Rs 2/- held in erstwhile company Max India.
In June, Max India shareholders were also allotted 99 shares of Max Healthcare of face value Rs 10/- each for every 100 shares of face value Rs. 2/- each held in erstwhile Max India. The allotment of shares of Max Healthcare and new ‘Max India’ is the penultimate step before the shares are relisted for trading on the two stock exchanges NSE and BSE in August 2020. Max India shares are not being traded on the stock exchanges currently as a part of the defined demerger process.
The relisting of Max Healthcare and new ‘Max India’ are a part of the comprehensive scheme announced last year, that involved a series of transactions including demerger of Radiant’s healthcare assets into Max Healthcare which resulted in KKR backed Radiant Healthcare acquiring a majority stake in Max Healthcare.
The new ‘Max India’ is a holding company of two businesses – Max Group’s Senior Care business ‘Antara’ and a skilling company, ‘Max Skill First’. Antara has recently launched its second senior living community, situated in NCR on the Noida Expressway and is also set to launch Assisted Living businesses in Delhi NCR.
Speaking about the progress in the demerger process, Mohit Talwar, Vice Chairman, Max Group and Managing Director, Max India, said, “We are in the final stages of the demerger process of Max India. The relisting of new ‘Max India’ expected in August will offer an opportunity for investors to invest in the sunrise sector of holistic senior care in India, which is operated under the ‘Antara’ brand by new ‘Max India’ through residencies for seniors and the soon to be launched assisted care businesses.”
About Max India:
Max India Limited, a part of the leading Indian conglomerate Max Group, has a presence in the senior care industry. It is the holding company of Antara Senior Living and Max Skill First. For more details, visit maxindia.com.
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