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 Latest ESOP Allotment

Max Healthcare Institute Limited has announced the allotment of equity shares to eligible employees under its Employee Stock Option Scheme 2022. The company filed the necessary regulatory disclosures with both BSE and NSE on January 2, 2026, detailing the share allotment under Regulation 30 of SEBI listing requirements.

Key Allotment Details

The latest allotment involved 2,32,104 equity shares with a face value of ₹10.00 each. The shares were issued at two different exercise prices to accommodate different employee categories under the scheme.

Exercise Price Structure

The allotment was executed at two distinct price points, reflecting different tranches of the ESOP program:

Impact on Share Capital

Following this allotment, Max Healthcare Institute's equity structure has been updated with increased share capital:

Regulatory Compliance

The company has fulfilled all regulatory requirements by filing the necessary documents with BSE and NSE. The original ESOP scheme was filed with the exchanges on September 29, 2022, under filing numbers BSE: DCS/IPO/MJ/ESOP-IP/2511/2022-23 and NSE: NSE/LIST/32765. The newly allotted shares are identical in all respects to existing equity shares and have been issued in dematerialized form with distinctive numbers ranging from 97,27,69,355 to 97,30,01,458.

Employee Benefits Program

This ESOP allotment represents Max Healthcare Institute's continued commitment to employee participation in the company's growth. The scheme allows eligible employees to acquire equity stakes at predetermined prices, aligning their interests with long-term shareholder value creation. The company noted that this allotment is not considered material in nature under SEBI listing regulations.