Max India stated on Wednesday that it has inverted its resolution of increasing Rs.650crore via the issue of shares based on rights; however it resolves to take the QIP route to swab Rs.450crore.
Nevertheless, the company has bagged the consent from its board for increasing Rs.450crore via the issue of shares or any such instruments to QIBs in 1or more tranches.The company would conduct an EGM of its shareowners on 28th July for bagging their consent for the increasing of funds.
The firm has existence in financial services and healthcare among others.
Max India shares traded at Rs.209.60, which is low with 1.16% in the late post noon trade on the Sensex.