Max India Ltd plans to invest in Antara Senior Living Ltd:
To begin with, on 20th March 2020, the Max India board of directors attended a meeting. In this meeting, the committee has considered and approved the proposal for its future investment. The company plans to invest Rs 115 cr in Antara Senior Living Ltd.
Moreover, the company’s Wholly-owned material Subsidiary (WOS)by way of subscribing to its CCPS. Its Compulsorily Convertible Preference Shares in one or more tranches to meet its funding expansion proposals.
The ASLL has its wholly-owned material subsidiary and the company has incorporated in 2013. The company has introduced the concept of ‘Age in Place’ for people around 55 years of age.
The company’s investment will be used for the business expansion of ASLL by the way of investment in the Project. Its initial sum does not exceding to Rs 70 crore at Greater Noida. Also, the project has completely owned by Icare Health Projects and Research Private Ltd.
Max India Limited share trading with a gain of 0.050 points reached 65.00 INR with 0.077% up. Its previous close at 64.95 INR. Max India Limited shares outstanding with 268,931,308.
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