Max Estates shines on getting nod to raise Rs 800 crore
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Max Estates is currently trading at Rs. 541.05, up by 22.50 points or 4.34% from its previous closing of Rs. 518.55 on the BSE.
The scrip opened at Rs. 530.30 and has touched a high and low of Rs. 547.65 and Rs. 529.20 respectively. So far 5524 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 547.65 on 16-Jul-2024 and a 52 week low of Rs. 242.80 on 02-Nov-2023.
Last one week high and low of the scrip stood at Rs. 547.65 and Rs. 492.15 respectively. The current market cap of the company is Rs. 7923.97 crore.
The promoters holding in the company stood at 49.51%, while Institutions and Non-Institutions held 27.80% and 22.68% respectively.
Max Estates has received approval for raising of funds by way of issuing fully paid-up equity shares (having face value of Rs 10 each of the company), fully or partly convertible debentures, other equity-based instruments or securities, convertible preference shares of any kind or type, Global Depository Receipts, American Depository Receipts, Foreign Currency Convertible Bonds, and/or other financial instruments/securities convertible into and/or linked to Equity Shares (including warrants, whether detachable or not), or otherwise, in registered or bearer form (all of which are hereinafter referred to as Securities), mentioned above, in one or more tranches, through one or more public and/or private offerings including by way of a qualified institutions placement or any combination thereof or any other method as may be permitted in accordance with the applicable provisions of the Companies Act, 2013 and the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended from time to time, and all other applicable laws, subject to receipt of such necessary governmental/statutory/regulatory and other approvals as may be required, including the approval of the shareholders of the Company for an aggregate amount not exceeding Rs 800 crore or an equivalent amount thereof (inclusive of such premium as may be fixed on such Securities). The Board of Directors of the company at its meeting held on July 15, 2024, has inter-alia considered and approved the same.
Max Estates is the real estate arm of the Max Group.
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