Max India gets nod to divest 85.17% stake in Pharmax Corporation
27th Jun 2019

Max India has received an approval for divestment of entire equity shareholding in its material subsidiary viz. Pharmax Corporation (Pharmax) (equivalent to 85.17% of Pharmax's total issued and paid-up equity share capital) to Max Estates, a wholly owned subsidiary of Max Ventures and Industries for an aggregate consideration of Rs 61.2 crore. The Board of Directors of the company at its meeting held on June 26, 2019 has considered and approved the same.

Max India is engaged in the business of investments and providing consultancy services to group companies. The company’s segments are Healthcare Business, Business Investments, Health Insurance, Senior Living and Others.