NEW DELHI: The Max India group is set to reverse its earlier decision to remove itself from the bourses, with the company announcing that it will relist its primary business unit Max India. The relisting of Max India shares will be done on Friday, enabling shareholders to “unlock value from the growth in emerging senior-care and retirement homes sector,” the company said in a statement.
Max India had been delisted from the exchanges just this June, but had recently announced that it plans to invest Rs 300 crore over the next four years in order to develop a housing project for senior citizens in Noida, Uttar Pradesh. It is also investing in its new assisted-care services business.
“Max India (till recently known as Advaita Allied Health Services) will list and start trading on the NSE as well as the BSE on August 28,” it said. Advaita had been formed as a result of the merger of the healthcare assets of the erstwhile Max India into Max Healthcare and the demerger of its senior care and other businesses into Advaita on June 1, 2020.
According to the company, aach shareholder has received one share of the new Max India unit with a face value of `10 for every 5 shares of erstwhile Max India, which had a face value of Rs 2 each.
The relisting of the new Max India follows the listing of another group firm, Max Healthcare, last week.