Max India Secures Rs. 124.23 Crore in Oversubscribed Rights Issue Boosting Senior Care Expansion
Max India Limited, through an oversubscribed Rights Issue, has successfully raised Rs. 124.23 crore. This capital will support the growth of Antara Senior Living and its expansion in senior care services. The fund will enhance sales, marketing, and working capital, strengthening Max India's position in the senior care market.
- Country:
- India
Max India Limited has announced the triumphant conclusion of its Rights Issue, raising an impressive Rs. 124.23 crore. The demand for the issue, oversubscribed by eager investors, showcases immense market confidence and enthusiasm in Max India's senior care initiatives.
Vice-Chairperson Tara Singh Vachani expressed gratitude for the strong validation of Max India's long-term vision, particularly in enriching the lives of seniors through comprehensive care solutions. The funds will predominantly support Antara Assisted Care Services Limited, enhancing sales efforts and meeting essential working capital needs.
The optimistic market response further manifested with a 3% rise in Max India's stock on the announcement day. This financial infusion fortifies Max India's strategic plan, ensuring sustainable growth and expanded service offerings in senior-centric health and wellness.
(With inputs from agencies.)
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