Max Bupa Health Insurance Company is a joint venture between Max India with 51 percent stake and the UK based healthcare services expert, Bupa with 49 percent stake.
Max India shares climbed 10 percent intraday Tuesday after a media report indicated that Indian private equity firm True North Capital is likely to buy a controlling stake in Max Bupa Health Insurance.
The stock was quoting at Rs 82.70, up Rs 2.30, or 2.86 percent amid high volumes on the BSE, at 14:08 hours IST.
"Homegrown private equity fund True North Capital is set to purchase a 51 percent stake owned by Max Group in Max Bupa Health Insurance Company for Rs 1,100 crore, The Economic Times said quoting two persons with knowledge of the plan.
The deal is in the final stages and may be discussed by the Max Bupa board, which is scheduled to meet soon, and the board is likely to approve the transaction later this week, the report added. "Max India will exit the venture."
Max Bupa Health Insurance Company is a joint venture between Max India with 51 percent stake and the UK based healthcare services expert, Bupa with 49 percent stake.
