Max Healthcare Institute Limited to be listed on Friday, August 21, 2020

Effective from Friday, August 21, 2020, the equity shares of Max Healthcare Institute Limited shall be listed and admitted to dealings on the Bombay Stock Exchange in the list of T Group of Securities. The scrip will be in Trade-for-Trade segment for 10 trading days.

Pursuant to the Composite Scheme of Amalgamation and Arrangement amongst erstwhile Max India Limited (Transferor Company 1 or Amalgamating Company), Max Healthcare Institute Limited (Transferee Company 2 or Amalgamated Company), Radiant Life Care Private Limited (Transferor Company 2) and Advaita Allied Health Services Limited (Presently known as Max India Limited) (Transferee Company 1) and their respective shareholders as sanctioned by the Mumbai Bench of the Hon'ble National Company Law Tribunal; whereby upon the coming into effect of the Scheme and in consideration of:

- Demerger of the Healthcare Business undertaking of Radiant Life Care Private Limited (Transferor Company 2) and transfer of the same to Max Healthcare Institute Limited (Transferee Company 2 or Amalgamated Company):

Max Healthcare Institute Limited shall issue and allot equity shares to the shareholders of Radiant Life Care Private Limited in the ratio of 9074 (Nine Thousand and Seventy-Four) equity shares of Rs. 10/- (Indian Rupees Ten) each of the Transferee Company 2, credited as fully paid up, for every 10 (Ten) equity share of Rs. 10/- (Indian Rupees Ten) each, fully paid up, of the Transferor Company 2 as on the Record Date i.e. June 1, 2020.

- Amalgamation of residual business [comprising of healthcare activities (including its underlying investment in Max Healthcare Institute Limited)] of erstwhile Max India Limited (Transferor Company 1 or Amalgamating Company) [after demerger of undertaking represented by whole of allied health and associated activities of erstwhile Max India Limited into Advaita Allied Health Services Limited (Presently known as Max India Limited)] into and with Max Healthcare Institute Limited (Transferee Company 2 or Amalgamated Company):

Max Healthcare Institute Limited shall issue and allot, 99 (Ninety Nine) equity shares of Rs. 10/- (Rupees Ten) each of Max Healthcare Institute Limited (each credited as fully paid up) for every 100 (Hundred) equity shares of Rs. 2/- (Rupees Two) each held in erstwhile Max India Limited on the Record Date i.e. June 15, 2020.

Prior to the Composite Scheme of Amalgamation and Arrangement, the paid-up equity capital of Max Healthcare Institute Limited was Rs. 537,24,43,280/- consisting of 53,72,44,328 equity shares of face value of Rs.10/- each.

After giving effect to the allotment of 63,50,42,075 equity shares of Rs. 10/- each to the shareholders of Radiant Life Care Private Limited and cancellation of 26,69,97,937 equity shares of Rs. 10/- each held by Radiant Life Care Private Limited in Max Healthcare Institute Limited upon aforesaid demerger and allotment of 26,62,41,995 equity shares of Rs. 10/- each to the shareholders of Max India Limited and cancellation of 26,69,97,937 equity shares of Rs. 10/- each held by Max India Limited held in Max Healthcare Institute Limited upon aforesaid amalgamation, the post arrangement paid up equity capital of Max Healthcare Institute Limited is Rs. 904,53,25,240/- consisting of 90,45,32,524 Equity shares Rs.10/- each.

Source : Equity Bulls

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