Max India promoter firm pledges 6 lakh shares

NEW DELHI: Diversified company Max India on Thursday said a promoter group company has pledged 6 lakh more shares, taking the total pledged stake to over 2 per cent.

On July 7, one of the company's promoter group company 'Maxopp Investments' has pledged 6 lakh shares, taking the total number of pledged shares to 60 lakh accounting for 2.34 stake in the firm, Max India said in a regulatory filing to the Bombay Stock Exchange (BSE).

The company did not provide details of the financials involved but based on the closing price of Rs 182.55 per scrip on July 7, the 6 lakh share could be worth Rs 10.95 crore.

Maxopp Investments, one of the promoter firm, held 5.96 per cent stake in Max India at the end of March quarter.

Max India Ltd is engaged in various business verticals including insurance, healthcare, contract research and specialty films.

Shares of Max India today closed at Rs 180.50 on the BSE, down 1.20 per cent from previous close.