Max India Ltd. has allotted 36.2 lakh equity shares on a preferential basis following the conversion of fully convertible warrants, raising ₹80.35 crore. According to reports from CNBC TV18, the allotment was approved by the company's Board through a circular resolution passed on July 23. The shares have been issued at ₹222 per share, comprising a face value of ₹10 and a premium of ₹212 per share.
Among the allottees, Max Ventures Investment Holdings Pvt. Ltd., a promoter entity, received 9.91 lakh equity shares, while Singularity Equity Fund I emerged as the largest non-promoter allottee with 22.53 lakh shares. Other allottees include Paulastya Sachdev, P&Y Capital Trust, Reetha Shetty, ANG Corporate Services Pvt. Ltd., and Kantilal Babulal Oswal, each receiving 48,873 shares. As reported by CNBC TV18, the allotment event took place on July 23, 2026, at 7:45 pm.
Following the allotment, Max India's paid-up equity share capital has increased to ₹56.2 crore, comprising 5.62 crore equity shares with a face value of ₹10 each. According to the company's disclosure to stock exchanges, the shares issued on a preferential basis will be subject to the lock-in requirements prescribed under SEBI's Issue of Capital and Disclosure Requirements (ICDR) Regulations.
The preferential allotment has resulted in significant market movement for Max India shares, with the stock gaining up to 10% following the announcement. As reported by CNBC TV18, the preferential allotment represents a strategic capital raising exercise to strengthen the company's financial position while maintaining compliance with regulatory requirements.
