Max Healthcare Institute has announced that its board of directors approved a share purchase agreement for the complete acquisition of Yerawada Properties Private Limited during their meeting held on December 18, 2025. This strategic move is part of the company's ambitious plan to establish a significant healthcare presence in Pune with a ₹1,020 crore investment.

Board Meeting and Acquisition Approval

The board meeting, which commenced at 10:30 AM IST and concluded at 10:55 AM IST, approved the proposal to enter into a share purchase agreement for acquiring 100% equity stake in Yerawada Properties Private Limited (YPPL). The acquisition will be executed in a step-up manner and will conclude upon receipt of Occupancy Certificate for the planned hospital building.

Target Company Background

Yerawada Properties Private Limited was initially incorporated as a Limited Liability Partnership on February 19, 2024, and was converted into a company under the Companies Act, 2013 with effect from November 14, 2025. The company is engaged in real estate development business and owns 1.68 acres parcel of freehold land located in Yerawada, Pune.

Phased Acquisition Structure

The purchase of equity stakes will be carried out in a structured manner. In the first tranche, Max Healthcare Institute will acquire 100% of the Class A equity shares representing 100% of the voting rights and 50.22% of the economic interest in YPPL. Subsequently, the company will acquire 100% Class B Equity Shares in a phased manner over a period of 4 years.

Hospital Development Project

The board has also accorded approval for setting up a 450-bedded super specialty hospital on the land owned by YPPL. The facility will be developed in Yerawada, Pune, which is described as a prime locality in the centre of the city. The land parcel has the capacity to accommodate the planned hospital development.

Investment and Financing Details

The aggregate spend of up to ₹1,020 crore includes YPPL shares acquisition, construction, equipment cost, stamp duty, registration charges, and other associated expenses. The company plans to finance this investment through a mix of internal accruals and term loans. This represents a significant expansion of Max Healthcare's existing network capacity.

Strategic Market Expansion

This development represents Max Healthcare Institute's strategic expansion into Maharashtra's healthcare sector. The company cites Pune as a thriving city with a large population and growing middle class experiencing surge in demand for quality healthcare services. The hospital will cater to healthcare needs of population living in Pune and surrounding regions, positioning the company to serve western India's growing metropolitan healthcare market. The proposed transaction is not a related party transaction, and no government or regulatory approval is required for the acquisition of shares in YPPL.

Max Healthcare Institute's ESOP Allotment

Max Healthcare Institute Ltd has recently made an important announcement regarding its Employee Stock Option Scheme (ESOP). The company has allotted equity shares to eligible employees who have exercised their stock options.

Key Details of the Allotment

• Date of Allotment: April 17, 2023
• Number of Shares Allotted: 1,45,833 equity shares
• Face Value: Rs. 10.00 each

Purpose of Allotment

The equity shares were allotted to the eligible employees of the company who exercised their options under the 'Max Healthcare Institute Limited - Employee Stock Option Plan 2020'.

Impact on Share Capital

Following this allotment, the paid-up share capital of Max Healthcare Institute has increased. The new paid-up share capital stands at Rs. 9,72,30,95,680.00, consisting of 97,23,09,568 equity shares of Rs. 10.00 each.

Significance for Investors

This ESOP allotment aligns the interests of employees with those of shareholders. It may potentially lead to increased employee motivation and retention, which could contribute to the company's long-term growth and performance.

Next Steps

Investors and market participants may want to monitor any further announcements from Max Healthcare Institute regarding their ESOP program and its potential impact on the company's performance.