Max India Ltd sells stake in Max Bupa

Max India Ltd announced on Tuesday that it sold its entire stake in Max Bupa Health Insurance Company Limited, equivalent to 51 per cent of the total issued and paid up capital to Fettle Tone LLP.

Furthermore, the nominated directors of Max India present on the Board of Max Bupa Health Insurance have resigned effectively from December 16, 2019, as Max Bupa ceased to be a subsidiary of the company.

Max India Limited is engaged in the business of investments and providing consultancy services to group companies. Its segments include healthcare business, business investments, health insurance, and senior living. The healthcare business segment includes its subsidiaries or joint ventures that are engaged in delivery of healthcare services in North India through its primary and tertiary healthcare centres and gain revenue from leasing of medical equipment. The business investments segment is represented mainly by treasury investments. Its health insurance segment relates to health insurance business, which is carried out by its subsidiary. Similarly, the senior living segment includes one of its subsidiaries, engaged in the business of senior living. It holds interests in Max Healthcare and Antara Senior Living.

At 12:00 pm on Tuesday, the stock was trading at Rs 76.50, up by 0.72 per cent or Rs 0.55 per share. The 52-week high was recorded at Rs 89.60 and the 52-week low was recorded at Rs 54.10.