Max India Limited has approved the reallocation of unutilised proceeds from its Rights Issue, aggregating to a net increase of Rs 7.3 crore, alongside the issuance of corporate guarantees worth up to Rs 75 crore for its wholly owned subsidiaries. The Board of Directors, in its meeting on May 28, 2026, sanctioned the revision of funds within the overall objects of the issue, which remains subject to shareholder approval. The company also approved the re-appointment of M/s MGC Global Risk Advisory LLP as Internal Auditor for FY 2026-27 and amended its policy on Related Party Transactions.

The reallocation of funds impacts the Performance Marketing and Brand marketing categories. The Board approved an increase of Rs 7.30 crore for the Products vertical, raising the allocation to Rs 50.3 crore. Conversely, the Services vertical allocation was reduced by Rs 3.80 crore to Rs 8.2 crore, and Brand marketing funds were cut by Rs 3.50 crore to Rs 6.5 crore.

Corporate Guarantees for Subsidiaries

The Board authorized the issuance of corporate guarantees up to Rs 75 Crores to facilitate loan facilities for Antara Senior Living Limited and Antara Assisted Care Services Limited. These guarantees, to be availed in one or more tranches, are subject to receiving requisite sanctions from banks or financial institutions. The guarantees will remain in force until the subsidiaries' secured obligations are fully repaid. The company stated that this would create a contingent liability without any immediate financial impact.

Table: Reallocation of Rights Issue Proceeds

Governance and Compliance

M/s MGC Global Risk Advisory LLP was re-appointed as Internal Auditor for the financial year 2026-27. The Board also amended the company’s policy on Related Party Transactions. In compliance with insider trading regulations, the trading window for dealing in the company's securities, which closed on April 1, 2026, will remain shut until 48 hours after the declaration of audited financial results for the quarter and year ended March 31, 2026, specifically until May 30, 2026.

Max India 's senior living arm, Antara Senior Care, has received a partial occupancy certificate for its residential community in Noida Sector 150. This regulatory clearance covers 3 towers and 340 units in Phase I, enabling 340 senior families to take possession of their homes. The development is expected to unlock approximately ₹150 crore in receivables that were contingent on possession, marking a significant financial milestone for the company.

Project and Financial Details

The receipt of the occupancy certificate follows the company's fulfillment of all payment obligations related to shared sports facilities in the sector. To expedite possession, the company approached the Noida Authority and the courts, including the Supreme Court of India, to establish its compliance. The total development spans approximately 12 lakh sq. ft., with Phase I accounting for approximately 7.45 lakh sq. ft. and Phase II covering the remaining 4.55 lakh sq. ft.

The following table outlines the revenue performance and estimates associated with the Noida Sector 150 project:

Operational Significance

Mr Rajit Mehta, MD & CEO, Antara Senior Care, stated that the team is actively reviewing the conditions laid down in the certificate and expects to start the grant of possession soon. With Phase I on the path to possession, the company will actively pursue the revalidation of approvals for Phase II. The community is designed for seniors seeking an independent lifestyle, offering residences integrated with wellness and medical services.