Max Estates Shares Soar 3.47% After Raising Rs 800 Crore from QIBs
Real Estate, office spaces, Commercial Real Estate
Real EstateCommercial Real EstateOffice SpacesMax EstatesQibsReal Estate NewsSep 04, 2024
The Investment and Finance Committee on September 3, 2024, approved the issue and allotment of 1,33,89,121 Equity Shares to 25 eligible qualified institutional buyers at the issue price of Rs 597.50 per Equity Share, i.e. at a premium of Rs 587.50 per Equity Share, which included a discount of 4.97 per cent to the floor price aggregating to approximate Rs 800 crore.
Post the allotment the paid-up equity share capital of the company now stands increased at Rs 160,79,80,330 consisting of 16,07,98,033 equity shares. The equity shares were allotted to various investors, including INVESCO India Large & Mid Cap Fund, INVESCO India Midcap Fund, INVESCO India Flexi Cap Fund, Nippon Life India Trustee Ltd - A/C Nippon India Small Cap Fund, and Kotak Small Cap Fund.
Established in 2016, Max Estates is the real estate development arm of Max Group. It provides properties for both residential and commercial use. For the April-June quarter of financial year 2024-25 (Q1FY25) the net sales surged to Rs 40.49 crore, marking a 121.52 per cent increase from Rs 18.28 crore in June 2023.
However, quarterly net profit decreased by 46.31 per cent to Rs 1.57 crore, compared to Rs 2.93 crore in June 2023. Ebitda (Earnings Before Interest, Taxes, Depreciation, and Amortisation) stood at Rs 22.45 crore, up 169.83 per cent from Rs 8.32 crore in the same month last year.
The company has a total market capitalisation of Rs 9,754.05 crore. Its shares are trading at a price to earnings multiple of 501.63 times with an earning per share of Rs 1.31 per share.
About Max Group
Max Group is a leading Indian conglomerate with interests in life insurance, healthcare, and real estate development.
Frequently Asked Questions
What is the name of the company that raised Rs 800 crore from QIBs?
Max Estates
What is the price at which the equity shares were allotted to QIBs?
Rs 597.50 per Equity Share
What is the total market capitalisation of Max Estates?
Rs 9,754.05 crore
What is the earning per share of Max Estates?
Rs 1.31 per share
What is the name of the parent company of Max Estates?
Max Group
Related News Articles
Amaravati Revival: N Chandrababu Naidu's Return Brings New Hope to Andhra Pradesh's Capital
Read More on Amaravati, N Chandrababu Naidu, land parcels, real estate, TDP, Andhra Pradesh, investment
Macrotech Developers Reports Staggering 2.7-Fold Jump in Q1 Profit
Macrotech Developers, a leading Indian real estate firm, has reported a massive 2.7-fold increase in its Q1 net profit, driven by higher income and strong pre-sales.
Tier 2 and 3 Cities to See Over 25 Million Sq Ft of New Retail Expansion by 2029
While the major cities like Delhi NCR, Mumbai, Pune, Bengaluru, Chennai, Kolkata, and Hyderabad continue to dominate retail real estate investment, Tier 2 and 3 cities are set to witness a significant surge in new retail developments. A recent report by J
Why Bengaluru's Billionaire Street is the Most Prestigious and Expensive Neighborhood
Bengaluru real estate: This elite neighborhood, home to names like Flipkart's Sachin Bansal and Quess Corp MD Ajit Isaac, is the most coveted and expensive in the city. Discover what makes it so special.
Maharashtra Surges Ahead with 1.19 Lakh RERA-Registered Real Estate Projects in 8 Years
Maharashtra has emerged as a frontrunner in the real estate sector, with an impressive 1.19 lakh projects registered with the Real Estate Regulatory Authority (RERA) across the top 10 states. This development highlights the state's commitment to transpare
Saheel Properties: Pioneering Modern Living in Pune
Pune, Maharashtra, March 31: Saheel Properties has been a driving force in the real estate sector of Pune, revolutionizing the concept of modern living for decades.