Max India Limited announced significant corporate developments following its board meeting held on February 10, 2026, including a registered office relocation and leadership changes. The company filed the necessary disclosures with BSE Limited and National Stock Exchange of India Limited under Regulation 30 of the SEBI Listing Regulations.

Registered Office Relocation

The board approved the shifting of the company's registered office from Mumbai to New Delhi, effective February 15, 2026. The transition represents a strategic move to the national capital.

Board Composition Changes

Mrs. Sharmila Tagore (DIN:00244638) submitted her resignation as Non-Executive Independent Director of the company, effective February 10, 2026. Her departure was attributed to increased personal commitments, as stated in her resignation letter.

Committee Memberships Impact

Mrs. Tagore's resignation also affects her committee positions within the company. She ceases to be a member of both the Nomination and Remuneration Committee and the Audit Committee. The company confirmed that she holds no directorships in other listed entities.

Regulatory Compliance and Documentation

The board meeting commenced at 1300 hrs and concluded at 1540 hrs on February 10, 2026. The company provided comprehensive documentation including the resignation letter and regulatory annexures as required under SEBI regulations.

In her resignation letter, Mrs. Tagore expressed gratitude for the opportunity to serve as an Independent Director and thanked the board for their support during her tenure. She confirmed that no material reasons exist for her resignation other than the increased personal commitments mentioned. The company secretary Trapti signed the regulatory filing documents on February 10, 2026.

Max india Limited has filed its monitoring agency report for the quarter ended December 31, 2025, demonstrating compliance with regulatory requirements for rights issue proceeds utilization. The report, prepared by CARE Ratings Limited and submitted to BSE and NSE on February 10, 2026, provides a comprehensive overview of fund deployment from the company's Rs. 124.23 crore rights issue.

Rights Issue Overview

The rights issue was conducted between May 7, 2025 and May 22, 2025, raising Rs. 124.23 crore for specific corporate objectives. The company operates as a holding company with key promoters including Max Ventures Investment Holdings Pvt. Ltd. (40.95%) and Siva Finvest Private Limited (6.82%).

Fund Utilization Progress

During Q3FY26, Max India utilized Rs. 23.03 crore towards the objects of the issue, bringing total utilization to Rs. 59.30 crore. The monitoring agency reported no deviations from the original expenditure plan disclosed in the offer document.

Investment in Subsidiary Activities

The company transferred Rs. 19.18 crore from the monitoring account to AACSL's current account during the quarter. Of this amount, Rs. 14.96 crore was deployed for marketing campaigns, content creation for UGC videos, and other branding activities, while Rs. 4.27 crore supported inventory procurement for Ageasy and CARE AT HOME business segments.

General Corporate Purposes Breakdown

The company utilized Rs. 3.78 crore for general corporate purposes, approved by the Board of Directors on November 13, 2025. The expenditure included:

• Employee Benefit Expenses: Rs. 2.74 crore
• Rent: Rs. 0.42 crore
• Legal and Professional: Rs. 0.39 crore
• Other Administrative Expenses: Rs. 0.23 crore

Deployment of Unutilized Funds

The remaining Rs. 64.93 crore has been invested in fixed deposits across multiple banks including AU Bank, HDFC, Kotak, Yes Bank, and IDFC. The deposits carry interest rates ranging from 2.75% to 7.60% with varying maturity dates extending up to May 2026.

Compliance and Monitoring

CARE Ratings Limited confirmed that all utilization aligns with disclosures in the offer document and no material deviations have been observed. The monitoring agency noted that the company incurred losses of Rs. 140 crore in FY25 and Rs. 60 crore in H1FY26, and sold fixed assets worth Rs. 105.08 crore to related party Max Towers Private Limited. The report has been reviewed and approved by the company's Audit Committee and Board of Directors.