Max India Limited — Important, 15-04-2025: General Updates

The Board of Directors has considered and approved the reclassification of Ms. Neelu Analjit Singh from 'Promoter and Promoter Group' to 'Public' category, contingent on approval from the stock exchanges. This decision follows a settlement agreement confirming that control of the company remains with Mr. Analjit Singh and the existing promoters. Additionally, the Board has approved raising funds through a rights issue of equity shares, with a total value of up to ₹125 Crore. The specifics regarding the rights issue, including entitlement ratios and the record date, will be determined later, subject to regulatory approvals. These developments may positively impact the company’s capital structure and investor sentiment.