Even as the broader market sentiment was bullish, shares of Max India fell 5 percent on BSE on the day of its relisting.
The stock debuted at Rs 80 on BSE but fell 5 percent soon to touch its lower price band at Rs 76 on August 28.
Max India resumed trading on BSE and NSE on August 28. The company, earlier known as Advaita Allied Health Services Limited, is a part of the $3-billion Max Group.
The new Max India is the holding company of Max Group’s senior-care business Antar and the skilling company Max Skill First.The relisting of Max India follows Max Healthcare’s listing last week. In a media release, the company said listings are the outcome of a comprehensive scheme announced last year that involved a series of transactions, including the demerger of KKR-backed Radiant Lifecare’s assets into Max Healthcare, which resulted in the listing of merged Max Healthcare.