SEBI has permitted Kayak Investments Holding Pte. Ltd (Kayak), one of the Promoters of
Max Healthcare Institute Limited, to undertake an open market sale on the floor of BSE Limited and National Stock Exchange of India Limited, towards compliance with the minimum public shareholding threshold
Kayak will undertake an open market sale of equity shares up to 0.28% of the total paid-up equity share capital of the company, aggregating up to 27,26,754 equity shares of the face value of Rs10 each (Equity Shares) of the company.
“The promoters and promoter group of the Company held 68,06,17,329 equity shares, aggregating to 70.46% of the paid-up equity share capital of the Company; and the public shareholders held 28,53,27,677 equity shares, aggregating to 29.54% of the total shareholding of the Company, it said in a filing on Tuesday.
While the public shareholding of the Company is currently represented as 29.54% of the current equity share capital of the Company, this includes 4.82% of the current equity share capital of the Company, which has not been considered towards compliance with the minimum public shareholding threshold.
“Accordingly, in order for the Company to comply with the minimum public shareholding threshold, the promoters of the Company would need to sell at least 27,26,754 equity shares, representing 0.28% of the current equity share capital of the Company,” it added.
At around 11.22 am, Max Healthcare Institute Ltd was trading at Rs345.45 per piece up by Rs1.15 or 0.33% from its previous closing of Rs344.30 per piece on the BSE.