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BRIEF-Max India to raise funds by issuing warrants amounting to 3 bln rupees
May 11, 2017 / 12:52 PM / 6 months ago

BRIEF-Max India to raise funds by issuing warrants amounting to 3 bln rupees

May 11 (Reuters) - Max India Ltd

* Says to raise funds by issuing warrants amounting to INR 3 billion at INR 154.76 per share of Max India

* Says International Finance Corp’s balance 3.75% stake in MHC will be acquired by Max India’s JV partner Life Healthcare Group

* Says will raise funds from its sponsor, Max Group’s founder and chairman emeritus Analjit Singh

* Says portion of proceeds from transaction will be utilized by co to acquire 3.75% stake in Max Healthcare from International Finance Corp

* Says sponsors’ shareholding in company will increase to 45.12% as a result of this transaction

* Says total consideration for stake acquisition of MHC will be INR 4.23 billion Source text - (bit.ly/2po3Icj) Further company coverage:

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