Max Healthcare climbs 5% on debut
Equity shares of Max Healthcare Institute Ltd. debuted at ₹107 on the BSE and National Stock Exchange on listing on Friday and rose 5% to close at ₹112.35.
“This listing is the final outcome of the amalgamation of erstwhile Max India into Max Healthcare Institute and demerger of the healthcare businesses of Radiant Life into Max Healthcare Institute pursuant to the composite scheme of amalgamation and arrangement as approved by the National Company Law Tribunal,” the company said in a statement.
The merger came into effect on June 1, 2020. Radiant Life had acquired 49.7% stake in Max Healthcare Institute in June 2019.
Max Healthcare Institute said the scheme of arrangement had led to the creation of the country’s second-largest healthcare chain by revenue.