Max India Raises ₹80.35 Crore via Preferential Issue of Convertible Warrants

Max India Limited, a diversified player in the healthcare and allied services space, has successfully raised ₹80.35 crore through a preferential issue of 36,19,594 fully convertible warrants at an issue price of ₹222 per warrant. The allotment, approved by the company’s Board on September 24, 2025, includes both promoter and institutional investors, signaling strong market confidence in the company’s growth outlook.

Warrant Allotment Breakdown

The preferential issue saw broad participation, with significant allocations to both promoter and non-promoter entities. Key details include:

Payment Structure and Conversion

• Initial Proceeds: At allotment, Max India received ₹40.17 crore, representing 50% of the total issue value.
• Conversion Terms: Each warrant can be converted into one fully paid-up equity share of ₹10 upon payment of the balance consideration.
• Lock-in: The securities are subject to SEBI’s prescribed lock-in requirements, ensuring regulatory compliance.

Strategic Significance

The preferential issue was carried out under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the company has duly notified both the BSE and NSE.

Max India noted that the infusion will strengthen its financial position, enabling it to pursue growth initiatives within the healthcare ecosystem. The participation of marquee investors such as Singularity Equity Fund I and continuing support from its promoter entity reflects confidence in the company’s long-term strategy.

✅ Summary:

• Funds Raised: ₹80.35 crore via issue of 36.19 lakh convertible warrants at ₹222 each.
• Promoter Participation: Max Ventures Investment Holdings subscribed to ~₹22 crore worth of warrants.
• Largest Investor: Singularity Equity Fund I subscribed to ~₹50 crore worth of warrants.
• Use of Funds: To bolster financial strength and support expansion in healthcare and allied services.