Max group founder Analjit Singh (pictured) along with Max Ventures Investment Holdings on Friday sold shares worth Rs 516 crore of Max Healthcare, a listed company of the group.
According to the bulk deals data of exchanges, Singh sold his entire stake of 0.64 per cent stake worth Rs 64.41 crore in Max Healthcare, which, according to Friday's closing price, has a market capitalisation of Rs 11,877 crore. Both the deals were done at a price of Rs 111 per share. On the BSE, Max Healthcare shares closed 17.44 per cent higher at Rs 131.30 on Friday over the previous day's price of Rs 111.80.
As per zaubacorp.com, the directors of Max Ventures include Bishwajit Das, Analjit Singh, Piya Singh, Arvind Aggarwal, and Sanjiv Malik.
Max Ventures, which held 11.35 per cent stake in Max Healthcare at the end of June 2020, sold 4.5 per cent stake worth Rs 451.10 crore in the company.
Of the total 5.1 per cent stake sold by Singh and Max Ventures, Smallcap World Fund Inc bought 2.6 per cent and WF Asian Reconnaissance Fund purchased 0.9 per cent, together valued at Rs 348 crore.