Gold­man Arm Looks to Sell 3.7% in Max Fi­nan­cials to Raise 550 cr

The Economic Times - - Companies: Pursuit Of Profit - Our Bureau

Mum­bai: Mau­ri­tius-based GS Mace Hold­ings, a sub­sidiary of Gold­man Sachs, has pro­posed to sell 3.7% stake in Max Fi­nan­cials to raise $82 mil­lion (.`550 crore) on Tues­day. The stake sale would be done sthrough an ac­cel­er­ated book-build­ing process. Cur­rently, GS Mace Hold­ings owns 6.43% stake in the com­pany.

The floor price has been fixed at .₹ 550 per share, a dis­count of 7.52% to the clos­ing price of .₹ 594.75 on Mon­day. The sale is part of the stake mon­eti­sa­tion plan by for­eign in­vestor, the term sheet said. Max In­dia de­merged into three sep­a­rate com­pa­nies last year. The three de­merged en­ti­ties are Max Ven­tures, Max Fi­nan­cial Ser­vices and Max In­dia.

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