4 hours ago
Shares of Max India Ltd ended at ₹223.55, up by ₹9.60, or 4.49%, on the BSE.
Max India Ltd. announced on Wednesday (April 23) that its board of directors has approved the terms of a rights issue amounting to ₹124.23 crore. The issue aims to raise equity capital by offering fully paid-up equity shares to eligible shareholders.
As per the approved structure, the company will issue 82,81,973 fully paid-up equity shares with a face value of ₹10 each at a price of ₹150 per share, including a premium of ₹140. The offer will be made in the ratio of 19 equity shares for every 100 shares held by eligible shareholders as of the record date, which is Tuesday, April 29, 2025.
The rights issue will open on Wednesday, May 7, 2025, and close on Thursday, May 22, 2025. The last date for on-market renunciation of rights entitlements is Friday, May 16, 2025.
The board also noted that the issue period may be extended but cannot exceed 30 days from the opening date. Upon full subscription, the company’s equity base will increase from 4,35,89,333 shares to 5,18,71,306 shares.
Shares of Max India Ltd ended at ₹223.55, up by ₹9.60, or 4.49%, on the BSE.
