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Business News/ Opinion / Online-views/  Max India will raise Rs10 billion from sale of securities
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Max India will raise Rs10 billion from sale of securities

Max India will raise Rs10 billion from sale of securities

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By Agencies

Max India Ltd., which is partnering US-based New York Life Insurance Co. locally, said its board approved a plan to raise Rs10 billion selling shares or related securities to select investors.

The securities will be sold to so-called qualified institutional buyers, New Delhi-based Max India said in a statement to the Bombay Stock Exchange today.

The board also approved raising the overseas investment limit in the company to 49 % of its paid-up capital, Max India said in the statement.

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Published: 22 Feb 2007, 04:26 PM IST
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