Held on 15 December 2022
The Board of Max Healthcare Institute at its meeting held on 15 December 2022 have accorded approval for funding (in one or more tranches) of wholly owned subsidiary i.e. Max Hospitals and Allied Services (MHASL) (previously called as Radiant Life Care Mumbai) by way of loan or deposit or investment in its securities etc. up to Rs 300 crore to partly finance the cost of Phase-1 expansion of bed capacity at Dr. Balabhai Nanavati Hospital, a managed healthcare facility (BNH).Further, the Board has also accorded its approval for issuance of sponsor's undertaking to the lending Bank(s) or FI's to BNH to affirm that Max Healthcare Institute (M) will continue to hold 100% stake in MHASL and meet the shortfall arising due to cost and time overruns for the Project.
The said Phase-1 expansion plan will add 329 beds to BNH and will further increase the total bed capacity of BNH to 660 beds.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content