Two promoter entities of Max India Ltd have pledged a total of eight lakh shares to Kotak Mahindra Prime Ltd and Aditya Birla Finance Ltd.
The company in its filings with BSE did not disclose the value at which shares were pledged. As per the market value on December 16 --the date on which the shares were encumbered-- they have been pledged for an estimated Rs 29.57 crore.
In two separate filings to the BSE, Max India said Medicare Investments has pledged two lakh shares to Aditya Birla Finance, while Liquid Investment and Trading Company Pvt Ltd has pledged six lakh shares to Kotak Mahindra Prime Ltd.
Diversified business group Max India has business interest in healthcare, life and health insurance, speciality films, contract research and lifestyle.
Max India shares today closed at Rs 387.55 apiece on the BSE, up 1.99 per cent from previous close.
