Max Estates Limited — Important, 08-08-2025: General Updates

Max Estates has approved a new wholly-owned real estate subsidiary with initial paid-up capital of ₹0.01 Cr. The company continues to deploy its ₹800 Cr Qualified Institutional Placement (QIP) funds, with ₹511.98 Cr utilized for land acquisition and project development. ₹141.50 Cr unutilized from QIP is parked in fixed deposits and mutual funds. From its ₹150 Cr Preferential Issue, ₹37.50 Cr has been received. Remaining funds depend on warrant conversion, which faces risk as the current share price is below the conversion price. Investors should watch future warrant exercise.