Max Healthcare Institute board has approved a comprehensive acquisition deal involving Kalinga Hospital Limited, alongside key governance decisions during its board meeting held on April 8, 2026. The healthcare provider will acquire a controlling 58.39% stake in the 250-bed multi-specialty hospital for ₹300 crore.

Board Meeting Outcomes

The board meeting, which commenced at 11:00 AM IST and concluded at 12:08 PM IST, addressed multiple strategic initiatives. The company approved the re-appointment of Mr. Narayan K. Seshadri as Non-Executive and Non-Independent Director for a three-year term from May 16, 2026, to May 15, 2029, subject to shareholder approval through postal ballot.

Kalinga Hospital Acquisition Structure

The acquisition involves multiple financial components beyond the equity purchase. Max Healthcare Institute has committed to comprehensive funding support for Kalinga Hospital's operations and development, including loans up to ₹100 crore for construction, renovation, and equipment upgrades.

Hospital Profile and Strategic Value

Kalinga Hospital Limited operates a 250-bed NABH accredited multi-specialty facility in Bhubaneswar, Odisha, since 1997. The hospital is strategically located on a 10-acre land parcel in Maitri Vihar, with a built-up area of approximately 2.60 lakh square feet. The facility offers comprehensive services across major specialties including Neurology, Cardiology, Orthopedics, Gastroenterology, Renal Sciences, and Oncology.

Financial Performance and Funding

Kalinga Hospital has demonstrated consistent revenue growth over the past three years, with turnover increasing from ₹90.39 crore in FY 2022-23 to ₹135.63 crore in FY 2024-25. To finance the acquisition, Max Healthcare has secured External Commercial Borrowings of up to ₹300 crore from Standard Chartered Bank, structured as a Senior Secured USD Term Loan with a tenure of up to five years.

The transaction is expected to complete within 4-6 weeks from execution of the share purchase agreement, subject to fulfillment of conditions precedent. This acquisition will add 250 beds to Max Healthcare's existing network capacity of approximately 5,200 beds, strengthening its footprint in Eastern India and enabling expansion into the Bhubaneswar healthcare market. The company's current network capacity utilization exceeds 76%, indicating strong demand for additional capacity.

Max Healthcare Institute Limited has filed a regulatory certificate with stock exchanges confirming compliance with SEBI depositories regulations for the quarter ended March 31, 2026. The healthcare provider submitted the mandatory disclosure as required under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018.

Regulatory Compliance Certificate

The certificate was issued by MUFG Intime India Private Limited, formerly known as Link Intime India Private Limited, which serves as the company's registrar and share transfer agent. The document confirms that no requests for dematerialization of shares were received during the reporting quarter.

Share Structure Details

The registrar specifically noted that Max Healthcare Institute does not maintain any physical shares, with the entire share capital existing in dematerialized electronic form. This complete digitization of share certificates eliminates the need for physical-to-electronic conversion processes.

Disclosure and Transparency

Max Healthcare Institute has made the certificate publicly available on its corporate website at www.maxhealthcare.in , ensuring transparency and easy access for stakeholders. The disclosure was signed by Dhiraj Aroraa, Senior Vice President - Company Secretary and Compliance Officer, demonstrating proper corporate governance protocols.

Stock Exchange Filing

The company submitted the certificate to both major Indian stock exchanges where its shares are listed. The filing ensures compliance with regulatory requirements and maintains the company's good standing with market authorities.