Reportedly, Max India Ltd has stated that the share owners would have a discussion on 28th July to decide on increasing Rs.450crore via QIP in one or more tranches.

Bajaj Finserv, Reliance Capital, ICICI Bank, State Bank of India, Aditya Birla Nuvo rushed up.
Nevertheless, Max India was low with 1.71%.

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.

Max India has increased Rs.150crore by assigning 10,326,311 equity shares of the (face) value of Rs.2 each to International Finance Corporation on favored basis.

Max India Ltd has started a dialogue with its life insurance alliance associate, New York Life International, to sell a 23% share in the project for around Rs.30 billion.

1.07lakh shares traded on BSE in the counter. The stock saw a standard everyday volume of 3.33lakh shares in the last single quarter.

The Sensex rushed 215 points to end at 14,840 after reaching an up of 14,907 and a down of 14,655.

1.65 lakh shares traded on BSE in the counter. The stock saw a standard everyday volume of 2.77 lakh shares in the last quarter.

Max India’s shares have gone up by over 10% to Rs103 after the company announced that the board of directors of the company would meet on December 12 to decide on rights issue.