Max India Ltd shares jumped 14% after the company announced plans to raise up to ₹125 crore through a rights issue of equity shares, as per a stock exchange filing. The equity shares will carry a face value of ₹10 each and will be offered to eligible shareholders as of a record date that is yet to be finalized.
In its regulatory statement, Max India mentioned that the detailed terms of the rights issue—including issue price, entitlement ratio, record date, payment structure, and schedule—will be determined in accordance with applicable laws and will be disclosed in due course.
This fundraising move is aimed at strengthening the company’s balance sheet and supporting its future growth plans. The announcement triggered positive investor sentiment, resulting in a sharp surge in Max India’s stock price during intraday trade.
Max India shares opened at ₹204.00, reaching a high of ₹231.00 and a low of ₹203.99 during the day. The stock remains volatile, trading well below its 52-week high of ₹338.00, yet above the 52-week low of ₹169.00.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
