Corporate News
Max Estates is expanding its real estate portfolio through an acquisition involving multiple sellers, structured with a combination of cash and a preferential issue of shares. The company plans to issue up to 70,33,162 new equity shares at Rs 597.50 per share, totaling approximately Rs 4,20,23,14,295. Investors participating in the share swap include Max Ventures Investment Holdings Private Limited, Terra Planet Estates Private Limited, and several trusts and individuals such as Mr. Bharat Sahgal and Mr. Analjit Singh. Following the issue, Max Ventures Investment Holdings Private Limited will increase its shareholding from 21.89% to 24.42%, calculated on a fully diluted basis, and the transaction complies with Securities and Exchange Board of India (SEBI) regulations.