Max Healthcare Institute Limited has announced the allotment of 57,461 equity shares to eligible employees under its Employee Stock Option Scheme 2022. The company's Nomination & Remuneration Committee approved this allotment on April 1, 2026, at 9:06 am IST, following the exercise of vested stock options by employees.

Share Allotment Details

The allotted equity shares carry a face value of ₹10 each and are fully paid-up. Employees exercised their stock options at ₹350 per equity share, with a premium of ₹340 per share. The shares have been issued in dematerialized form and are identical to existing equity shares in all respects.

Impact on Share Capital

The allotment has resulted in an increase in the company's equity share capital structure:

The newly allotted shares have distinctive numbers ranging from 97,31,35,042 to 97,31,92,502 (both inclusive) and carry the ISIN number INE027H01010.

Regulatory Compliance

Max Healthcare Institute Limited has filed the requisite details with both BSE Limited and National Stock Exchange of India Limited in accordance with regulation 10(c) of the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The company had initially filed the ESOP statement on September 29, 2022, with filing numbers DCS/IPO/MJ/ESOP-IP/2511/2022-23 for BSE and NSE/LIST/32765 for NSE.

Key Features

The allotment carries several important characteristics:

• No lock-in period applicable on the allotted shares
• Shares are immediately tradeable and identical to existing equity shares
• No additional listing fees payable for this allotment
• Allotment classified as non-material under SEBI regulations

The company has disclosed that this allotment is not considered material in nature under regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure has been made available on the company's website at www.maxhealthcare.in for public access.

Max Healthcare Institute Limited has announced the successful completion of the voluntary liquidation process for its step-down subsidiary ET Planners Private Limited, following an order passed by the National Company Law Tribunal (NCLT) on March 25, 2026. The healthcare major received the NCLT order on March 25, 2026, at 6:00 pm IST, formally dissolving the subsidiary.

Liquidation Process Timeline

The voluntary liquidation process for ET Planners Private Limited commenced in September 2024, with the company providing multiple intimations to stock exchanges regarding the proceedings. The process began with a board resolution on September 6, 2024, followed by an extraordinary general meeting on September 11, 2024, where shareholders passed a special resolution to initiate voluntary liquidation proceedings.

Company Structure and Financial Details

ET Planners Private Limited was incorporated on September 26, 2017, under the Companies Act, 2013, with CIN U74999DL2017PTC324142. The company operated as a step-down wholly-owned subsidiary of Max Healthcare through Alps Hospital Limited.

Business Transfer and Impact

The entire business undertaking of ET Planners, comprising all assets, liabilities, customer and supplier contracts, service agreements, leases, licenses, and employees, has been transferred to Alps Hospital Limited on a going concern basis. All creditors amounting to Rs. 41,72,45,487 provided their no-objection certificates for the transfer of claims as part of the business distribution.

Max Healthcare has emphasized that the liquidation will not affect any business or accounting policies and will not have any material impact on the company's financials. The company was originally established to manage and support hospitals, diagnostic centers, clinics, and other healthcare institutions across India.

Regulatory Compliance

The liquidation process was conducted under Section 59 of the Insolvency & Bankruptcy Code, 2016, with Ms. Sunita Umesh appointed as the liquidator. The process included:

• Declaration of solvency by directors filed on September 24, 2024
• Public announcement in Financial Express and Jansatta newspapers
• Compliance with IBBI regulations throughout the process
• No-objection certificates from regulatory authorities including Income Tax Department

NCLT Order Details

The NCLT New Delhi Bench Court-VI, comprising Justice Jyotsna Sharma and Ms. Anu Jagmohan Singh, passed the dissolution order after reviewing all compliance requirements. The tribunal noted that no adverse comments were received from statutory authorities or the public despite the public announcement and IBBI website updates.

The liquidator has been directed to preserve physical or electronic copies of all reports, registers, and documents for eight years (electronic) and three years (physical) after dissolution. The order also allows tax authorities to assess and recover any dues arising from the business transfer in accordance with applicable law.