Max India Limited — Others, 30-12-2024: Shareholders meeting

Max India Limited has submitted a Notice of Postal Ballot seeking shareholder approval for a material related party transaction involving the sale of three floors (60,561 square feet) at Max Towers, Noida, to Max Towers Private Limited for ₹105.08 crore (cr). The company plans to use the proceeds to meet business and growth capital requirements. This transaction, which offers a 5% premium over the highest outside offer, is viewed positively as it aligns with strategic objectives and is supported by independent valuations from CBRE and Cushman & Wakefield. Investors may see this as a strategic move, potentially enhancing the company’s operational capacity and financial health.