ICICI Prudential Mutual Fund (the Fund), through its various schemes, has conducted a net sale of 71.7 lakh shares of Max Financial Services Ltd, reducing its shareholding by 2.08% of the company's paid-up capital. This sale, executed between March 28, 2025, and July 15, 2025, has decreased the Fund’s total holding to 3.82% as of July 15, 2025.
ICICI Prudential Mutual Fund's Stake in Max Financial Services
Particulars
Details
Previous Holding (as of March 28, 2025)
5.90%
Shares Sold
71,69,992
Percentage of Shares Sold
2.08%
Current Holding (as of July 15, 2025)
3.82%
Details of the Transaction
The net sale of shares was carried out in the secondary market. The Fund clarified that these transactions are part of its investment activities and not aimed at gaining control of Max Financial Services Ltd. The disclosure was made under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Share Capital Details
As of the transaction date, the equity share capital of Max Financial Services Ltd. stood at ₹69,02,29,542, comprising 34,51,14,771 shares with a face value of ₹2 each.
Regulatory Disclosure
The disclosure was submitted to BSE Limited on July 16, 2025, by Rakesh Shetty, Chief Compliance Officer & Company Secretary of ICICI Prudential Asset Management Company Limited.
