Max Healthcare Expands Footprint with ₹1,020 Crore Yerawada Properties Acquisition

Max Healthcare Institute's board has approved a comprehensive ₹1,020 crore investment plan involving the complete acquisition of Yerawada Properties Private Limited (YPPL) and the development of a 450-bed super specialty hospital in Pune. The acquisition will be executed in phases over 4 years, with the first tranche involving 100% Class A equity shares providing full voting rights and 50.22% economic interest, followed by the gradual acquisition of Class B shares.

The board meeting, which commenced at 10:30 AM IST and concluded at 10:55 AM IST on December 18, 2025, approved the proposal to enter into a share purchase agreement for acquiring 100% equity stake in YPPL. The acquisition will be executed in a step-up manner and will conclude upon receipt of the Occupancy Certificate for the planned hospital building.

Yerawada Properties Private Limited was initially incorporated as a Limited Liability Partnership on February 19, 2024, and was converted into a company under the Companies Act, 2013 with effect from November 14, 2025. The company is engaged in real estate development business and owns a 1.68-acre parcel of freehold land located in Yerawada, Pune.

The purchase of equity stakes will be carried out in a structured manner. In the first tranche, Max Healthcare Institute will acquire 100% of the Class A equity shares representing 100% of the voting rights and 50.22% of the economic interest in YPPL. Subsequently, the company will acquire 100% Class B Equity Shares in a phased manner over a period of 4 years.

The board has also approved setting up a 450-bedded super specialty hospital on the land owned by YPPL. The facility will be developed in Yerawada, Pune, which is described as a prime locality in the center of the city. The land parcel has the capacity to accommodate the planned hospital development.

The aggregate spend of up to ₹1,020 crore includes YPPL shares acquisition, construction, equipment cost, stamp duty, registration charges, and other associated expenses. The company plans to finance this investment through a mix of internal accruals and term loans. This represents a significant expansion of Max Healthcare's existing network capacity.

This development represents Max Healthcare Institute's strategic expansion into Maharashtra's healthcare sector. The company cites Pune as a thriving city with a large population and a growing middle class experiencing a surge in demand for quality healthcare services. The hospital will cater to the healthcare needs of the population living in Pune and surrounding regions, positioning the company to serve western India's growing metropolitan healthcare market. The proposed transaction is not a related party transaction, and no government or regulatory approval is required for the acquisition of shares in YPPL.

Max Healthcare Institute Ltd has also allotted 1,45,833 equity shares to eligible employees under its Employee Stock Option Plan 2020 on April 17, 2023. The shares have a face value of Rs. 10.00 each. This allotment has increased the company's paid-up share capital to Rs. 9,72,30,95,680.00, consisting of 97,23,09,568 equity shares.

The equity shares were allotted to the eligible employees of the company who exercised their options under the 'Max Healthcare Institute Limited - Employee Stock Option Plan 2020'. This move is expected to boost employee morale and align their interests with the company's long-term growth objectives.