Max India, the flagship arm of the $3-billion Max Group, will be relisted on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on August 28 (Friday) helping its shareholders gain from the company’s forays into emerging senior care and retirement homes sector.

Max India Limited (previously known as Advaita Allied Health Services Limited) was formed as a result of the merger of the healthcare assets of the erstwhile Max India into Max Healthcare and demerger of the Senior Care and other businesses of Max India into Advaita on June 1 this year.

Each shareholder has received one share of new Max India with a face value of ₹10 for every five shares of erstwhile Max India, which had a face value of ₹2 each, the company said in a statement today.

The new entity would be the holding company of Max Group’s senior care business ‘Antara’ and a skilling company, ‘Max Skill First’. The relisting of new ‘Max India’ on Friday follows Max Healthcare’s listing last week. The listings are the outcome of a comprehensive scheme announced last year that involved a series of transactions including the demerger of KKR-backed Radiant Lifecare’s assets into Max Healthcare, which resulted in listing of merged Max Healthcare.

Senior living facility

Antara, Max India’s flagship operating business, operates across two lines of businesses – Residences for seniors and assisted care services. It has a residential community with 200 apartments in Dehradun. Earlier this year, Antara launched a new senior living facility in Noida, which will have 340 apartments in its first phase of development. Expected to be ready for possession in 2024, the new facility would cater to the health-related, wellness, social, recreational, and educational needs of seniors.

Max India said it would invest over ₹300 crore in the next three to four years in assisted care services businesses. It plans to set up a chain of over 35 Care Homes with more than 1,200 beds over the next five years.

“Max India is embarking on a new journey – one that offers exponential potential. There is a tremendous opportunity to benefit from the senior care growth mega trend in India. This category will be $10-12 billion market across various value pools. Seniors have started to become a large cohort in India and is expected to comprise 10 per cent of total population in India by 2025,” said Analjit Singh, founder and Chairman, Max Group and Max India.

Mohit Talwar, Managing Director, Max India, said that the listing of the new Max India will lead to a more specific value discovery for our businesses in the senior care space. The Max Group has provided a cumulative annual value creation of 24 per cent since its inception three decades ago.

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