{"id":3856,"date":"2024-09-06T17:55:47","date_gmt":"2024-09-06T12:25:47","guid":{"rendered":"https:\/\/lakshmishree.com\/news\/?p=3856"},"modified":"2024-09-06T17:55:49","modified_gmt":"2024-09-06T12:25:49","slug":"max-financial-promoter-entity-sells-3-2-stake-for-rs-1218-crore-in-large-trade","status":"publish","type":"post","link":"https:\/\/lakshmishree.com\/news\/max-financial-promoter-entity-sells-3-2-stake-for-rs-1218-crore-in-large-trade\/","title":{"rendered":"Max Financial Promoter Entity Sells 3.2% Stake for Rs 1,218 Crore in Large Trade"},"content":{"rendered":"\n

Max Financial Services’ promoter entity, Max Venture Investment Holdings Pvt Ltd, sold a 3.2% equity stake in the company on September 5, amounting to over Rs 1,218 crore. This sale represents nearly half of the promoter’s shareholding, as per a filing with the stock exchanges.<\/p>\n\n\n\n

The stake sale involved 1.1 crore shares, with proceeds used to pay off the promoter entity’s debts, completely removing any pledge on its shares. Post-sale, Max Venture holds a 3.22% stake in Max Financial, or roughly 1.11 crore shares.<\/p>\n\n\n\n

Max Financial’s stock saw a slight rise on September 6, trading at Rs 1,119.5, up 0.2%, following a 1.5% decline the previous day. On September 5, large deals worth Rs 1,637 crore were reported, with around 1.5 crore shares (or 4.3% of Max Financial) changing hands.<\/p>\n\n\n\n

This move has been seen as a significant deleveraging step for the promoter entity, positioning Max Financial for future growth.<\/p>\n\n\n\n

Do you have a news tip for Lakshmishree reporters? Please email us at <\/em>media@lakshmishree.com<\/p>\n\n\n\n

Source:\u00a0Moneycontrol<\/a><\/sup><\/sub><\/p>\n","protected":false},"excerpt":{"rendered":"

Max Financial Services’ promoter entity, Max Venture Investment Holdings Pvt Ltd, sold a 3.2% equity stake in the company on September 5, amounting to over Rs 1,218 crore. This sale represents nearly half of the promoter’s shareholding, as per a filing with the stock exchanges. The stake sale involved 1.1 crore shares, with proceeds used […]<\/p>\n","protected":false},"author":1,"featured_media":3857,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[50],"tags":[340],"class_list":["post-3856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-indian-market","tag-max-financial-sell-stake"],"_links":{"self":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/3856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/comments?post=3856"}],"version-history":[{"count":1,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/3856\/revisions"}],"predecessor-version":[{"id":3858,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/3856\/revisions\/3858"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media\/3857"}],"wp:attachment":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media?parent=3856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/categories?post=3856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/tags?post=3856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}