Max Estates Raises ₹800 Crore through Successful Qualified Institutional Placement
Max Estates Limited, a leading real estate developer in Delhi NCR, has raised ₹800 Crore through a Qualified Institutional Placement (QIP)
Max EstatesQualified Institutional PlacementQipReal EstateDelhi NcrReal Estate NewsSep 05, 2024
The QIP, which was launched on September 2, 2022, witnessed overwhelming response from institutional investors, including foreign institutional investors, domestic mutual funds, and insurance companies. The issue was oversubscribed by 2.5 times, reflecting the strong demand for Max Estates' shares.
Max Estates Limited is a subsidiary of Max Ventures & Industries Limited, a part of the Max Group. The company is focused on developing high-quality residential and commercial projects in Delhi NCR. With a strong track record of delivering projects on time and to the satisfaction of its customers, Max Estates has established itself as a trusted and reliable player in the region.
The funds raised through the QIP will be utilized by Max Estates to repay debt, invest in new projects, and enhance its working capital. This infusion of capital will enable the company to accelerate its growth plans, expand its portfolio of projects, and strengthen its position in the market.
Speaking on the occasion, Mr. Sahil Vachani, Managing Director and CEO of Max Ventures & Industries Limited, said,
Frequently Asked Questions
What is the amount raised by Max Estates through the QIP?
Max Estates has raised ₹800 Crore through the QIP.
What is the purpose of the QIP?
The funds raised through the QIP will be utilized by Max Estates to repay debt, invest in new projects, and enhance its working capital.
Who are the investors in the QIP?
The QIP witnessed participation from institutional investors, including foreign institutional investors, domestic mutual funds, and insurance companies.
What is the significance of the QIP for Max Estates?
The QIP is a significant step forward in Max Estates' journey to become a leading real estate developer in India, enabling the company to accelerate its growth plans and expand its portfolio of projects.
Who is the Managing Director and CEO of Max Ventures & Industries Limited?
Mr. Sahil Vachani is the Managing Director and CEO of Max Ventures & Industries Limited.
Related News Articles
Godrej Properties Surpasses Sales Record with ₹29,444 Crore in FY25
Mumbai-based Godrej Properties has set a new sales record, surpassing ₹29,444 crore in FY25, beating its previous record of ₹22,500 crore from FY24 and exceeding its guidance of ₹27,000 crore.
Home Buyers to Get Possession During Insolvency Resolution: IBBI
As of June 2024, around 1,400 real estate and construction firms have entered the insolvency resolution process under the IBC. The Insolvency and Bankruptcy Board of India (IBBI) has introduced new rules to aid homebuyers.
Cement Prices Drop 7% in April-January FY25: Industry Report
Cement prices experienced a significant decline of 7% during the April-January period of FY25, according to a recent industry report. This decrease is attributed to increased production from recently acquired capacities and improved operational efficiency
Carbon Minus Bags Major Solar Projects in Maharashtra under MSKVY 2.0
Carbon Minus has successfully secured two significant solar projects under the Maharashtra State Government's Mukhyamantri Solar Krishi Vikaas Yojana (MSKVY) 2.0, contributing to the state's renewable energy goals.
Residential Real Estate Grows with New Markets and Premium Launches
Leading real estate companies like LODHA and Prestige Estates are expanding their operations into new cities such as Pune, Bengaluru, and MMR, driving growth in the residential real estate sector.
Akshay Kumar Offloads Luxurious Borivali East Apartment for Rs 4.35 Crore; Details Inside
Bollywood megastar Akshay Kumar has made headlines once again, this time for a major real estate transaction. He has reportedly sold his opulent apartment in Borivali East for a staggering Rs 4.35 crore. The deal highlights the ongoing allure of Mumbai's