Max India’s founder Analjit Singh is all set to infuse Rs 300 crore into the company in lieu of warrants at Rs 154.76 a share. The company will use a raised amount to buy 3.75% stake in its flagship company Max Healthcare (MHC) from World Bank arm International Finance Corporation (IFC). IFC owns 7.5 per cent in Max Healthcare.
IFC’s balance 3.75 per cent stake in Max Healthcare will be bought by South Africa’s second largest hospital chain Life Healthcare Group, the venture partner of Max India in Max Healthcare.
Max India, a multi-business corporate, is part of the $2 billion Max Group and is the holding company for Max Healthcare, Max Bupa Health Insurance and Antara Senior Living.