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(Photo: HT)
(Photo: HT)

Max group promoters sell healthcare, financial services biz shares worth 284 cr

  • According to data on BSE, Max Ventures sold a 1.84% stake at Rs108.88 a share
  • Earlier on 11 September, the promoters had sold 4.6% stake in Max Healthcare to buyers including American investment firm Capital Group and a unit of Hong Kong based hedge fund manager Ward Ferry for around 515 crore

Mumbai: Max Ventures Investment Holdings Pvt Ltd, a promoter entity of Analjit Singh, on Monday sold 16.71 million shares in Max Healthcare Institute Ltd worth 182 crore via block deal.

According to data on BSE, Max Ventures sold a 1.84% stake at Rs108.88 a share. Smallcap World Fund Inc has bought 11.40 million shares at 108.75 a share. The total deal valued at 124 crore.

Earlier on 11 September, the promoters had sold 4.6% stake in Max Healthcare to buyers including American investment firm Capital Group and a unit of Hong Kong based hedge fund manager Ward Ferry for around 515 crore.

In a separate filing Max Ventures Investment Holdings said that it has sold 1.7 million shares or a 2.22% of Max Financial Services Ltd at 600.06 a share for a total consideration of Rs102 crore.

Mint had first reported on 22 June that Singh and his family entities were looking to raise up to 2,300 crore by stake sales in the group’s financial and healthcare businesses.

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