In February this year, Max India had informed stock exchanges that Life Healthcare Group Holdings had initiated preliminary discussions with it to explore the possibility of acquisition of the South Africans firm's shares in Max Healthcare Institute.
Analjit Singh
Deputy managing director Mohit Talwar of Max India said that profits for the life insurance business have increased 8 times and AUMs has increased 20% for the same business. Talwar expects Rs 516 crore from the Max Healthcare stake sale. He also stated that the liquidity position of Max group is very healthy.
South Africa's Life Healthcare said it would pay about USD 108 million for a quarter stake in Indian private hospital firm Max Healthcare, giving it a sizeable exposure to the fast-growing market.
Max India touched an intraday high of Rs 190.05 and an intraday low of Rs 184.65. At 09:21 hrs the share was quoting at Rs 185.40, up Rs 7.50, or 4.22%.