Promoter Group Sells Stake to Repay Debt

Max Financial Services announced that its promoter group firm, Max Ventures Investment Holdings Pvt Ltd, sold a 3.19% stake to repay their debt. The sale involved 1.10 crore equity shares. Following the transaction, the promoter's stake in Max Financial Services decreased from 6.40% to 3.22%.

Max Financial Services announced on Friday that its promoter group firm, Max Ventures Investment Holdings Pvt Ltd, has sold a 3.19 per cent stake to repay their outstanding debt.

The transaction, which took place on September 5, involved the sale of 1.10 crore equity shares in Max Financial Services.

According to Max Financial's filing with BSE, the promoters have now cleared all their debt, resulting in no pledge of shares held by the promoter in the company. Post-sale, the promoter's stake in Max Financial Services has reduced to 3.22 per cent from the previous 6.40 per cent.

(With inputs from agencies.)