Analjit Singh-led promoters buy additional 3.6% in Max Ventures

The promoters, led by Singh acquired an additional 3.33 per cent stake in MaxVIL from Goldman Sach on November 29 at Rs 50.5 per share, a statement said.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney master your money IThe Winning Leap SME Special
Moneycontrol

Home » News » Business

Nov 30, 2016, 09.04 PM | Source: PTI

Analjit Singh-led promoters buy additional 3.6% in Max Ventures

The promoters, led by Singh acquired an additional 3.33 per cent stake in MaxVIL from Goldman Sach on November 29 at Rs 50.5 per share, a statement said.

Like this story, share it with millions of investors on M3

Analjit Singh-led promoters buy additional 3.6% in Max Ventures

The promoters, led by Singh acquired an additional 3.33 per cent stake in MaxVIL from Goldman Sach on November 29 at Rs 50.5 per share, a statement said.

Post Your Comments

Share Cancel

| 1 Comments
Analjit Singh-led promoters buy additional 3.6% in Max Ventures
Analjit Singh along with other promoters of Max Ventures & Industries Ltd (MaxVIL) have acquired an additional 3.6 per cent stake in the company, taking their total shareholding to 44 per cent.

The promoters, led by Singh acquired an additional 3.33 per cent stake in MaxVIL from Goldman Sach on November 29 at Rs 50.5 per share, a statement said.

They also bought an another 0.27 percent stake from open market in "creeping acquisition between 25-28 November 2016 at prevailing market prices", it said.

"We have full conviction in the underlying strength of Max Ventures & Industries as our vehicle to pursue path-breaking formats in areas which either have adjacencies to our existing businesses of life or where we have long-standing experience," Singh said.

These sunrise businesses offer immense potential of growing multi-fold in profits as well as valuation, he added.

"The promoters' shareholding in the company now stands at 44 per cent," the statement added.

MaxVIL is one of the three new holding companies formed after the demerger of the erstwhile Max India Limited, and was the second company to start trading after Max Financial Services.

It is listed on BSE and National Stock Exchange in June.

The company manages the investment in its manufacturing subsidiary, Max Speciality Films (MSF).

MaxVil also aims to evaluate new ideas in the wider world of business, including but not limited to sectors education, real estate and technology taking cues from economic and commercial reforms agenda of Government, including Make in India, Skill India, Digital India among others.

Shares of MaxVIL closed 7.6 per cent higher at Rs 53.80 on BSE.

Buy, Hold, Sell ? Hear it first on M3
Analjit Singh-led promoters buy additional 3.6% in Max Ventures

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login