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Broker's call: Max Financial (Buy)

Emkay Global
14-12-2022
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Max Financial Services Ltd - 500271 - Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate

Please find enclosed disclosures dated December 8, 2022 in terms of Regulation 39(3) of SEBI (Listing Obligation & Disclosure Requirements) Regulations, 2015, received from our Registrar and Transfer agent M/s Mas Services Limited, in respect to the intimation for loss of share certificates of the Company. You are requested to kindly take the same on record.
09-12-2022
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Max Financial Services Ltd - 500271 - Completed The Transaction For Acquisition Of Balance 5.17% Stake Of Max Life From MSI, Japan

This is further to our letter dated November 28, 2022 regarding receipt of approval from IRDAI for acquisition of balance 5.17% stake of Max Life from MSI, Japan. In this regard, we would like to inform you that today the Company completed the aforesaid transaction for the acquisition of the balance 5.17% stake held by Mitsui Sumitomo Insurance Company Limited, Japan ('MSI'), in Max Life Insurance Company Limited ('Max Life'), a material subsidiary of the Company. After the aforesaid transaction, the shareholding held by the Company in Max Life stands increased to 87%. You are requested to take note of the above and arrange to disseminate the same for the information of the public.
08-12-2022
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Max Financial Services Ltd - 500271 - Statement From Mr. Analjit Singh, Founder And Chairman, Max Group

A statement from Mr. Analjit Singh, Founder and Chairman, Max Group on recent coverage in certain sections of electronic media on the alleged stake sale by the Promoters in the Company. You are requested to take note of above and arrange to disseminate the same for the information of public.
30-11-2022

Max Financial Services gets Irdai nod to acquire 5.17% stake of Mitsui Sumitomo in Max Life

The transaction is expected to be concluded in the next fortnight, Max Financial Services Ltd (MFSL) said in a regulatory filing.
28-11-2022
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Max Financial Services Ltd - 500271 - Disclosure Under SEBI (LODR) Regulations, 2015 - Receipt Of Approval From IRDAI For Acquisition Of Balance 5.17% Stake Of Max Life From MSI, Japan.

This refers to our earlier disclosure letters dated March 3, May 27 and December 8, 2020 regarding (i) share swap by issuance of shares of the Company to Mitsui Sumitomo Insurance Company, Limited, Japan ('MSI') for consideration other than cash and (ii) for acquisition of balance stake held by MSI in Max Life Insurance Company Limited ('Max Life'). In this regard, as disclosed by us earlier, the share swap transaction with MSI was completed on December 8, 2020, on receipt of all regulatory approvals. We are now pleased to inform that Insurance Regulatory and Development Authority of India ('IRDAI') vide its letter dated November 25, 2022 accorded its approval to the Company for acquisition of residual 5.17% stake held by MSI in Max Life @ Rs. 85/- per share. On acquisition of the aforesaid 5.17% stake in Max Life, the shareholding held by the Company in Max Life would stand increased to 87%. The press release being issued by the Company is enclosed.
28-11-2022
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Max Financial Services Ltd - 500271 - Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011.

The Exchange has received the Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011 on November 14, 2022 for Max Ventures Investments Holdings Pvt Ltd
14-11-2022
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