Holding Company of Max Group’s Senior Care business's ₹124 Crore Rights Issue Oversubscribed 1.45x, Signaling Investor Confidence in Senior Care Sector
Despite a 1-year return of -32.92 per cent, it has delivered a 3-year return of 157.26 per cent
Max India Limited, a notable player in India’s senior care segment, recently concluded its Rights Issue, successfully raising Rs 124.23 crore. The issue involved the allotment of 82,81,973 fully paid-up equity shares at Rs 150 per share and witnessed an oversubscription of 1.45 times. This strong investor response highlights growing confidence in Max India’s long-term vision and its strategic push into the senior care ecosystem.
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The funds raised are intended to support the growth of its subsidiary, Antara Assisted Care Services Limited, with a focus on boosting sales, marketing, and meeting working capital needs. Tara Singh Vachani, Vice-Chairperson of Max India, emphasised that the oversubscription “reflects strong validation of our long-term vision and the value we’re creating in the senior care space.” The company aims to deliver consistent top-line growth while strengthening its integrated lifecare and lifestyle platform tailored for seniors.
Max India’s business model is centred around the Antara brand, which spans senior living residences, assisted care homes, and the senior-focused product line AGEasy. Antara Senior Living operates intergenerational communities in Gurugram and is expanding into Noida and Chandigarh. The Assisted Care business includes care homes across Gurugram, Noida, and Bengaluru with a total bed capacity of 300, and a rapidly scaling Care at Home service. AGEasy, which offers over 60 products, has reported healthy revenue growth, further diversifying the company’s revenue streams.
The company also has interests in real estate through Max Estates Gurgaon Limited and targets 1.5 million sq. ft. of new real estate developments each year. These efforts are aimed at creating a scalable and profitable ecosystem in the high-growth senior care space, a niche gaining prominence as India’s population ages.
As of May 30, 2025, Max India’s stock is trading at Rs 180.6. The stock hit a 52-week high of Rs 329.9 and a low of Rs 172. Despite a 1-year return of -32.92 per cent, it has delivered a 3-year return of 157.26 per cent. The company has a market capitalisation of Rs 937 crore, placing it in the Small-Cap category.
Public shareholders include notable names such as Murugu Selvan K (1.50 per cent), Nivedita Ritesh Oswal (1.15 per cent), Value Prolific Consulting Services Pvt Ltd (1.05 per cent), and investor Porinju Veliyath (1.03 per cent), underlining continued interest from seasoned market participants.
Disclaimer: The article is for informational purposes only and not investment advice.