Pursuant to approval accorded by the Board of Directors of Max Healthcare Institute Limited (the "Board"), at its meeting held on September 1, 2020 and special resolution passed by the members of the Company on September 29, 2020, the QIP Issue Committee of the Board has today, i.e., March 4, 2021, approved and declared the opening of the Issue today, i.e., March 4, 2021.
The committee approved and adopted the preliminary placement document dated March 4, 2021 in connection with the Issue.
The committee also approved and taken on record, the 'Relevant Date' for the purpose of the Issue, in terms of Regulation 171 the SEBI ICDR Regulations, which is March 4, 2021.
The committee has approved and taken on record the floor price in respect of the Issue based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations being INR 190.40 per Equity Share and in accordance with 176(1) of the SEBI ICDR Regulations, the Company may at its absolute discretion offer a discount of not more than 5% of the floor price so calculated for the Issue.
The QIP Issue Committee of the Board on March 09, 2021 will consider and approve, among other things, the issue price of the Equity Shares to be issued to qualified institutional buyers, pursuant to the Issue.
Shares of Max Healthcare Institute Limited was last trading in BSE at Rs. 195.25 as compared to the previous close of Rs. 189.30. The total number of shares traded during the day was 57,235 and the deliverable quantity was 26,914 shares.
The stock hit an intraday high of Rs. 197.10 and intraday low of Rs. 187.20.