Max Ventures and Industries has received its board’s approval to invest Rs 90 crore in its subsidiary Max Estates. The company’s board gave approval for the same at its meeting held on May 03, 2017.
Max Estates has acquired the 100% of the share of Wise Zone Builders (Wise Zone). Wise Zone has sub-lease of approximately 3352 sq. mts of land situated at Noida and is in process of construction and development of commercial built up area. The proposed funding shall be, inter alia, utilised by Wise Zone for its project.
Max Ventures and Industries was formed as one of the resultant entities following the demerger of the erstwhile Max India in January 2016.