&w=3840&q=100)
Max India shares climb 5% on rights issue announcements; check key details
The company's shares continued to trade northward. At 2:01 PM on Monday, Max India shares were trading at around ₹226.60 per share, up ₹5.58 or 2.52 per cent against the previous close of ₹221.02 on the NSE.
Max India rights issue details:
According to the exchange filing, the company has announced a rights issue of 82,81,973 fully paid-up equity shares with a face value of ₹10 each. The rights issue price is ₹150 per rights equity share (including a premium of ₹140), payable on application.
The total size of the rights issue stands at ₹124,22,95,950, assuming full subscription of the offered rights equity shares.
The rights entitlement ratio will be 19 rights equity shares for every 100 equity shares held by eligible shareholders as on the record date, which is Tuesday, April 29, 2025. ALSO READ |
Max India rights issue key dates:
Issue opening date: May 7, 2025
Last date for on-market renunciation of rights entitlements: May 16, 2025
Issue closing date: May 22, 2025
Finalisation of basis of allotment (on or about): May 23, 2025
Date of allotment (on or about): May 23, 2025
Date of credit of rights equity shares (on or about): May 26, 2025
Date of listing (on or about): May 26, 2025 ASLO READ | Here's why Sonata Software shares soar 6% in trade on Monday, April 28
About Max India:
Max India is the holding company for Max Group's senior care business, Antara. It operates in assisted care services and independent residences for seniors. The company focuses on people- and service-oriented businesses in health and life care. Max India's investor list includes IFC, New York Life, Nomura, and others.
As of April 28, Max India enjoys a market capitalisation of ₹8,813.33 crore on the NSE.
Max India shares have dropped 18 per cent year-to-date. In contrast, benchmark Nifty50 has advanced over 2 per cent during the same period.
The company's shares have a 52-week range of ₹82.65 – ₹444.54 on the NSE.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Standard
5 hours ago
- Business Standard
Hexaware Appoints Shantanu Baruah to Lead Healthcare, Life Sciences, and Insurance Globally
PRNewswire Iselin (New Jersey) [US], August 1: Hexaware Technologies (NSE: HEXT), a global IT solutions company, today announced the appointment of Shantanu Baruah as President & Global Head - Healthcare, Life Sciences & Insurance (H & I). He will be based out of the company's New Jersey office and will lead Hexaware's global strategy, growth, and client success initiatives across the vertical. With over 25 years of experience in the healthcare and life sciences industry, Shantanu brings deep domain expertise and a proven track record of building high-performing teams, driving strategic growth, and leading complex client transformations. Prior to joining Hexaware, he served as Executive Vice President at HCLTech, where he led the Healthcare vertical during one of the industry's most disruptive periods and played a pivotal role in expanding business in the Americas. At a time when AI is reshaping everything from drug discovery to diagnostics and preventive care, Shantanu's appointment underscores Hexaware's commitment to delivering real-world impact. With AI and data at the core, Hexaware is focused on helping clients enhance patient outcomes, accelerate innovation, and drive operational efficiencies -- critical pillars shaping the future of healthcare. R Srikrishna, CEO of Hexaware, said, "We're excited to have Shantanu join Hexaware at a time of exciting momentum in our Healthcare, Life Sciences, and Insurance business. His leadership and deep market knowledge will be instrumental in helping our clients navigate the next era of digital health, patient-centric care, and AI-powered innovation." Commenting on his appointment, Shantanu Baruah said, "I'm delighted to join Hexaware and lead the next phase of growth in the H & I vertical. The industry is at an inflection point, and Hexaware's agile culture, customer-first mindset, and AI-led and human intelligence perfected approach make it ideally positioned to partner with clients in delivering better outcomes." Shantanu holds a master's degree in computer applications and a bachelor's degree in zoology, a combination that brings both technical and scientific perspectives to his leadership. This appointment reflects Hexaware's continued focus on strengthening domain leadership and scaling vertical-centric growth to address the evolving needs of global clients. About Hexaware Hexaware is a global technology and business process services company. Every day, Hexawarians wake up with a singular purpose: to create smiles through great people and technology. With offices across the world, we empower enterprises worldwide to realize digital transformation at scale and speed by partnering with them to build, transform, run, and optimize their technology and business processes. Learn more about Hexaware at Photo: Logo:
Time of India
8 hours ago
- Time of India
Explained: Why Nifty50, BSE Sensex have closed in red for 5th week in row; top 5 reasons
FIIs have consistently sold Indian stocks during the past 9 trading sessions. (AI image) Indian stock markets indices, Nifty50 and BSE Sensex , ended the week down over 1%. In fact, the benchmark indices have seen their fifth consecutive week of closing in red. Nifty50 has dropped over 270 points this week, while BSE Sensex plunged over 860 points. ' The benchmark index Nifty wrapped up its fifth consecutive week in the red — its longest losing streak since August 2023, raising eyebrows across the street. What adds to the concern is the back-to-back formation of bearish candles with long upper shadows on the weekly chart. This pattern is a classic sign of rejection at higher levels,' says Sudeep Shah, Head - Technical and Derivatives Research, SBI Securities. "Despite making multiple attempts to scale up, the index has struggled to hold ground, only to be met with selling pressure each time. The long upper wicks are a telling story — bulls tried, but bears had the final say. It reflects a market that's finding it hard to build on gains, weighed down by renewed supply pressure and a cautious sentiment hovering overhead," he added. Nifty50 sees longest weekly losing streak in 2 years The broader markets weren't spared either. Both the Nifty Midcap and Nifty Small Cap 100 indices came under notable selling pressure and have now underperformed the frontline index for the second consecutive week. The Nifty Pharma index recorded a 3.3% decline on Friday, marking its third consecutive negative session and registering a weekly loss of 2.9%. Global pharmaceutical companies saw pressure following the White House's directive to 17 international drug manufacturers asking for reduced prescription drug prices in the US to align with global standards. Why is the Indian stock market falling? What's driving the bearish sentiment? According to SBI Securities, several factors have contributed to this shift in tone — from renewed concerns around the progress of India–US trade negotiations, to persistent FII outflows, and a string of underwhelming corporate earnings that failed to meet market expectations. 1) Unrelenting FII selloff Foreign Institutional Investors (FIIs) continue their selling trend, with a substantial Rs 5,588.91 crore worth of shares sold on Thursday. FIIs have consistently sold Indian stocks during the past 9 trading sessions, with the selloff reaching Rs 27,000 crore. FIIs have established record bearish positions, with short positions in index futures reaching 90%, the highest level since March 2023. The long-to-short ratio declined to 0.11 at the August series commencement, whilst the Nifty rollover rate decreased to 75.71% in July from June's 79.53%. "Investor sentiment weakened further as FIIs now hold the second-highest net short position in derivatives, reflecting elevated caution," said Vinod Nair, Head of Research, Geojit Investments. The significant increase in the dollar index to 100 has further accelerated the FII selloff. "FIIs had been selling right through the month. So, they probably had an inkling that the BTA is not really going India's way, and there were other factors around the FIIs selling, which was China looking very good from a valuation and a growth upgrade perspective. I think China's growth is now projected to shoot up to 4.8," market expert Sunil Subramaniam was quoted as saying in an ET report. 2) Donald Trump's 25% Tariff on India Market confidence deteriorated after US President Donald Trump signed an executive order that imposed a higher-than-anticipated 25% tariff on India. The prospect of additional penalty for India's purchase of Russian oil and arms has also weighed on sentiment. "The Indian equity market extended its decline for a second day, pressured by renewed tariff threats and punitive duties that could undermine India's global trade competitiveness," said Nair of Geojit Investments. 3) Underwhelming Q1 results India Inc's first quarter earnings have seen muted and underwhelming results. Over the last 30 days, the IIT index has declined by 10%, whilst the Nifty Bank is flat. The combined performance of India's leading nine private sector banks showed modest growth of 2.7%, indicating cautious economic expansion and subdued lending activity. 4) Global Markets Hit Asian markets saw big losses on Friday as traders evaluated new US tariff implications whilst awaiting US employment statistics. The MSCI Asia-Pacific index (excluding Japan) declined by 1.5%, seeing a weekly dip of approximately 2.7%. European shares displayed weakness, with the Stoxx 600 declining 1%, moving towards its poorest weekly performance since April. "Global equity markets were mostly weak over the past week, as the US tariff saga continued. The Indian equity market continued to underperform global equity markets in the past week," Shrikant Chouhan, Head – Equity Research said. 5) Strong US Dollar The US dollar index has seen a big 2.5% increase over the week, going beyond 100 and achieving its highest level in two months. This has been the dollar's best week in approximately three years. The strengthening dollar has led to increased capital outflows from emerging economies, India included. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
News18
8 hours ago
- News18
NSDLs Rs 4,011-cr IPO subscribed 41 times on final day of offer
Last Updated: New Delhi, Aug 1 (PTI) The initial public offer of National Securities Depository Ltd (NSDL) received 41 times subscription on the closing day of bidding on Friday. The Rs 4,011-crore initial share sale got bids for 1,44,03,92,004 shares against 3,51,27,002 shares on offer, translating into 41.01 times subscription, as per data available with the NSE. Qualified Institutional Buyers (QIBs) garnered 103.97 times subscription. The category for non-institutional investors received 34.98 times subscription and the portion for Retail Individual Investors (RIIs) got subscribed 7.73 times. National Securities Depository Ltd mobilised over Rs 1,201 crore from anchor investors on Tuesday. The IPO has a price band of Rs 760-800 per share. The depository's public issue solely consists of an offer for sale (OFS) component of 5.01 crore shares, and those selling shares under this are National Stock Exchange of India (NSE), State Bank of India (SBI), HDFC Bank, IDBI Bank, Union Bank of India, and Administrator of Specified Undertaking of the Unit Trust of India (SUUTI). Since the public issue is entirely an OFS, NSDL will not receive any proceeds from the IPO. The upcoming listing will make NSDL the country's second publicly traded depository after Central Depository Services Ltd (CDSL), which was listed on the NSE in 2017. NSDL is a Sebi-registered market infrastructure institution offering a wide range of products and services to the financial and securities markets in India. Following the introduction of the Depositories Act in 1996, it pioneered the dematerialisation of securities in India in November 1996. ICICI Securities, Axis Capital, HSBC Securities and Capital Markets (India), IDBI Capital Markets & Securities, Motilal Oswal Investment Advisors and SBI Capital Markets are the book-running lead managers to the issue. Shares of NSDL are expected to list on August 6. PTI SUM SUM SHW (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: August 01, 2025, 20:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
