Max India Board Gives Its Nod To Split The Company Into 3 Distinct Entities

Max India's board has approved a corporate restructuring plan under which, the company will be split vertically into three different listed companies through a demerger process. This move is being undertaken to enable a better focus on each business.

The shares of Max India jumped by more than 11% during intra-day trade today.

Max India will now be renamed as Max Financial Services Ltd and it will focus only on the life insurance business. The second company will be called Max India, which will oversee Max Healthcare, health insurance business Max Bupa and Antara Senior Living. The third company will be called Max Ventures and Industries Ltd, under which the investment activity of the group’s manufacturing subsidiary, called Max Speciality Films Ltd, will take place.

"This structural reconfiguration readies us to capitalise on opportunities created by the anticipated all round growth acceleration and to henceforth look at the wider world of business opportunities," Max India Chairman Analjit Singh said.