Max Healthcare lists on stock exchanges; shares jump 5 pc

I look forward to taking the company to newer heights with the excellent team of clinicians and management that we have." According to a BSE filing, effective from August 21, 2020, the equity shares of Max Healthcare Institute are listed and admitted to dealings on the exchange in the list of 'T' group securities.

Shares of Max Healthcare Institute debuted on the bourses on Friday following a demerger scheme and later closed with 5 per cent gains. After listing at Rs 107, the stock further rose 5 per cent to Rs 112.35 -- its upper circuit limit -- on the BSE.

On the NSE, it listed at Rs 106.45 and later jumped 4.97 per cent to Rs 111.75. The listing is the final outcome of the amalgamation of erstwhile Max India into Max Healthcare and demerger of healthcare businesses of Radiant Life into Max Healthcare pursuant to the composite scheme of amalgamation and arrangement as approved by the National Company Law Tribunal, according to a company statement.

This resulting merger came into effect from June 1, 2020. Earlier, Radiant Life had acquired 49.7 per cent stake in Max Healthcare in June 2019, it added. AbhaySoi, Chairman and Managing Director, Max Healthcare said: "The healthcare sector holds immense potential and opportunities and I look forward to creating the best-regarded chain of hospitals in India. I look forward to taking the company to newer heights with the excellent team of clinicians and management that we have." According to a BSE filing, effective from August 21, 2020, the equity shares of Max Healthcare Institute are listed and admitted to dealings on the exchange in the list of 'T' group securities.