Holding Company of Max Group’s Senior Care business Antara Announces Rights Issue of Rs 12,422.96 Lakhs, Offering 82.81 Lakh Shares at Rs 150 each - Key Dates Inside!
The stock of the company has jumped over 14 per cent in a month while it is till down 4 per cent on a yearly basis.
Max India Limited has announced a proposed Rights Issue of its fully paid-up equity shares. The announcement follows earlier notifications made on April 15, April 16, and April 23, 2025. The company plans to issue up to 82,81,973 Equity Shares. The face value of each share is Rs 10, with the issue price set at Rs 150 per share.
The total amount expected to be raised through the Rights Issue is Rs 12,422.96 Lakhs. Eligible shareholders are entitled to 19 Rights Equity Shares for every 100 fully paid-up equity shares held as of the record date, which is Tuesday, April 29, 2025. The Rights Issue Committee of the Board of Directors approved the Final Letter of Offer on April 25, 2025.
The key dates for the Rights Issue are as follows: The last date for the credit of Rights Entitlements is April 30, 2025. The Issue opens on May 7, 2025, and closes on May 22, 2025. The last date for on-market renunciation of Rights Entitlements is May 16, 2025. Finalisation of the Basis of Allotment and the Date of Allotment are expected to be on or about May 23, 2025. The Date of Credit of Rights Equity Shares and the Date of Listing are expected to be on or about May 26, 2025.
DSIJ’s 'multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, download the service details here.
In the Quarterly Results of December 2024, the company reported a revenue of Rs 34.74 crore, reflecting a YoY decline of 14.62 per cent compared to Rs 40.69 crore in December 2023. The operating profit stood at (Rs 29.64) crore, marking a 70.93 per cent rise in losses from (Rs 17.34) crore in the same quarter last year. The profit after tax (PAT) stood at (Rs 44.60) crore, widening by 149.16 per cent from (Rs 17.90) crore in December 2023.
In FY24, the company posted a revenue of Rs 190.55 crore, registering a 10.02 per cent decline compared to Rs 211.76 crore in FY23. The net profit for the year stood at (Rs 56.38) crore, down from (Rs 10.38) crore in the previous financial year, showing a 443.16 per cent increase in losses.
About the Company
Max India Limited was originally incorporated as 'Advaita Allied Health Services Limited' on January 23, 2019. The company's name was changed to 'Max India Limited' on July 1, 2020, following a composite scheme of amalgamation and arrangement. The company's registered office is located in Mumbai, Maharashtra, and its corporate office is in Gurugram, Haryana. The stock of the company has jumped over 14 per cent in a month while it is till down 4 per cent on a yearly basis.
Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.