Max India Limited has announced the allotment of 20,000 equity shares to eligible employees under its Employee Stock Option Plan (ESOP) 2020. The company informed stock exchanges about this development through a regulatory filing on December 12, 2025.

ESOP Allotment Details

The Nomination and Remuneration Committee of Max India Limited approved the allotment on December 12, 2025 at 10:54 a.m. The allotted shares have a face value of ₹10 each and were issued as fully paid-up equity shares to eligible employees of the company and its subsidiary companies.

The allotment arose from the exercise of vested stock options in accordance with the company's ESOP Plan 2020, providing employees with an opportunity to acquire equity stakes in the organization.

Impact on Share Capital

Following this allotment, Max India Limited's capital structure has been updated to reflect the increased shareholding base. The company's issued, subscribed and paid-up capital has increased as a result of this ESOP exercise.

The allotment represents a modest increase in the company's equity base, with the total number of outstanding equity shares rising by 20,000 shares.

Regulatory Compliance

Max India Limited made this disclosure pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The company has informed both BSE Limited (Scrip Code: 543223) and National Stock Exchange of India Limited (Scrip Name: MAXIND) about this development.

The disclosure has also been hosted on the company's website at www.maxindia.com , ensuring transparency and accessibility of information to all stakeholders. This ESOP allotment reflects the company's commitment to employee participation in its growth story through equity ownership.

Max India Limited has unveiled an ambitious expansion strategy for its Antara Senior Care division, targeting the burgeoning senior care market in India. The company aims to capitalize on the projected growth of the sector, which is expected to reach USD 33 billion by 2030. However, this expansion comes against a backdrop of mixed financial performance, as revealed in the company's latest investor presentation and financial statements.

Expansion Plans

Antara Senior Care is set to embark on a significant growth trajectory over the next 4-5 years:

• Residential Communities: Plans to establish 8-10 communities, accommodating 8,000-10,000 residents
• Care Homes: Targeting 2,000 beds across multiple facilities
• Geographic Reach: Expansion across multiple clusters in India, moving towards a pan-India presence

Financial Performance

The company's Q2 results show both progress and challenges:

While revenue showed a modest increase, the company's losses have widened significantly year-over-year.

Balance Sheet Highlights

As of September 2025:

The company's balance sheet reflects a decrease in total assets by 7.51% compared to the previous year, while total equity has declined by 27.14%.

Strategic Focus

Antara Senior Care is positioning itself as a comprehensive senior care provider:

1. Senior Living Residences: Fully operational community in Dehradun, with projects in Noida and Gurugram
2. Care Homes: 500 beds capacity built across four cities
3. Care at Home: Services available in Delhi-NCR, Bangalore, and Chennai
4. AGEasy: Digital-first platform offering senior-specific products and health solutions

Market Opportunity

The senior care market in India is poised for significant growth:

• Current market size: USD 13 billion (2024)
• Projected market size: USD 33 billion (2030)
• Market penetration expected to increase from 1.3% to 2.5% by 2030

Challenges and Outlook

While the expansion plans are ambitious, Max India faces several challenges:

• Widening losses despite revenue growth
• Decreasing total assets and equity
• Negative operating cash flow of ₹127.60 crore in the current year

The success of the expansion strategy will depend on the company's ability to improve operational efficiency, manage costs, and capitalize on the growing demand for senior care services in India.

As Max India Limited pursues its expansion plans for Antara Senior Care, investors and stakeholders will be closely watching how the company navigates its financial challenges while tapping into the potential of the emerging senior care market in India.