Warburg to pick up 13.8% in Max

<div class="section0"><div class="Normal"><span style="" font-family:="" arial="" font-size:="">NEW DELHI: Max Healthcare Institute, a subsidiary of Max India Ltd, on Thursday said it would make a preferential allotment of shares to Madison Holding Limited and Melany Holdings Limited, registered FIIs belonging to private equity invester Warburg Pincus Group.</span><br /><br /><span style="" font-family:="" arial="" font-size:="">The allotment approved by the board represents a 13.8 per cent stake in the equity base of the company through an investment of Rs 25 crore for 1,88,67,925 equity shares of Rs 10 each at an issue price of Rs 13.25 per share.</span><br /><br /><span style="" font-family:="" arial="" font-size:="">"This represents a premium of 32.5 per cent per share.With this investment, Max Healthcare joins the select group of Indian companies in which Warburg Pincus has made investments," the company said in a statement here. The total investment of Warburg Pincus in India is over $850 million.</span><br /><br /><span style="" font-family:="" arial="" font-size:="">"The equity infusion by Warburg Pincus in Max Healthcare will help meet the long-term funding needs of this capital intensive business," Max India joint Managing Director B Anantharaman said. </span><br /></div> </div>