Max India Limited has announced the sale of three floors at Max Towers in Noida for an aggregate amount of Rs. 105.08 crores. The transaction, involving Max Towers Private Limited (MTPL), a subsidiary of Max Estates Limited, was approved by the Board of Directors on December 24, 2024.
This material related party transaction, subject to shareholder approval, covers the sale of 60,561 square feet across floors L19, L20, and L20M, along with parking spaces and embedded fixtures. The proceeds will be used to meet the business growth requirements of the company and its subsidiaries.
The agreement comes after Max India sought independent market valuations through CBRE South Asia, which confirmed the offer as fair. The transaction is structured at arm’s length and will undergo further regulatory approvals before being finalized.