Max India Limited — Important, 23-04-2025: General Updates

The Board of Directors of Max India Limited has approved a Rights Issue of fully paid-up equity shares, allowing eligible shareholders to apply for 82,81,973 shares at a price of ₹150 each, aggregating to approximately ₹124.23 crore. The Rights entitlement ratio is set at 19 shares for every 100 shares held as of the Record Date, which is April 29, 2025. The issue is scheduled to open on May 7, 2025, and close on May 22, 2025, with the possibility of extension. The total outstanding equity shares prior to the Rights Issue stand at 4,35,89,333, which will increase to 5,18,71,306 post-issue, assuming full subscription. Investors should watch closely for the potential adjustments in shareholding and the implications for shareholder value.