Max Healthcare Institute gains over 4% as SBI Mutual Fund hikes shareholding

Stocks

The final holding of SBI Mutual Fund, on closing of March 2022, was more than 8.94 crore equity shares, which is 9.22 percent of paid up equity capital of the company.

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Representative Image

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Max Healthcare Institute shares closed with 4.5 percent gains on BSE on April 5 after SBI Funds Management through several funds increased shareholding in the company to over 9 percent. The stock closed at Rs 368.55 on the BSE.

“SBI Mutual Fund, under its various schemes, has purchased more than 1 crore equity shares of the company, representing 1.03 percent of paid up equity, on March 31, 2022,” said the company in its BSE filing, quoting SBI Funds Management.

The final holding of SBI Mutual Fund, on closing of March 2022, was more than 8.94 crore equity shares, which is 9.22 percent of paid up equity capital of the company.

Its earlier shareholding in the company was 8.19 percent.

On the same day, March 31 this year, promoter Kayak Investments Holding Pte Ltd (an affiliate of KKR) had sold around 10 percent stake in Max Healthcare Institute through a block trade. As a result, its shareholding in the company stands reduced to 27.54 percent now, against 37.54 percent earlier.

Max Healthcare is promoted and led by Abhay Soi as its Chairman and Managing director and co-promoted by KKR, the iconic Global Private equity fund.

It operates 17 healthcare facilities (3,400+ beds) across the NCR Delhi, Haryana, Punjab, Uttarakhand and Maharashtra. Apart from hospitals, it also operates a homecare business and pathology business under brand names Max@Home and Max Labs respectively. Max@Home offers health and wellness services at home while Max Lab provides Pathology Services outside our hospital network.