Max Healthcare Institute has allotted 2,06,091 equity shares under ESOS on 13 September 2024. With this allotment, the paid up equity share capital has increased to 97,21,32,053 equity shares of Rs 10 each. Powered by Capital Market - Live

The Board of Max Healthcare Institute at its meeting held on 13 September 2024 has approved execution of strategic collaboration agreement with Lakshdeep Investments and Finance and Lakshdeep Infrastructure and Holdings (collectively referred to as 'Lakshdeep Group'). Lakshdeep Group entities are indirect holding companies of Jaypee Healthcare ('JHL') who have been permitted to work out / submit a viable plan/solution in relation to the revival of JHL vide order dated 11 July 2024 of Hon'ble National Company Law Appellate Tribunal ('NCLAT'), Delhi. The NCLAT has approved the settlement agreed to between Lakhsdeep Group and the Committee of Creditors of JHL ('CoC') vide its order dated 12 September 2024. The Company, as strategic partner under the aforesaid arrangement, shall enter into an agreement to acquire ~64% equity stake of JHL within 30 days of NCLAT order. The Company proposes to enter into option agreement for acquisition of remaining ~36% equity stake. The Board has also approved raising of funds by way of short term loans at the Company level up to Rs 1,000 Crore for settlement of admitted claims of the financial creditor of JHL and utilization of internal accruals of the Company for the proposed purchase of equity shares of JHL. Further, the Company shall also organize loan at JHL level for the repayment of its short term debt.In this regard, the Board has also approved issuance of corporate guarantee to the bank/ financial institution for loan proposed to be extended to JHL. Powered by Capital Market - Live

Max Healthcare Institute (MHIL) has entered into a Strategic Collaboration Agreement with Lakshdeep Group, the ultimate promoter group of Jaypee Healthcare (JHL) - which is undergoing Corporate Insolvency Resolution Process (CIRP). This Strategic Collaboration and proposed acquisition will give MHIL a controlling stake in JHL, including its flagship asset, the renowned 500-beds Jaypee Hospital, Noida. Under the agreement, MHIL shall organize debt for repayment of admitted claims of the financial creditors of JHL and proposes to simultaneously acquire ~64% stake in the company, with call and put option for the remaining stake. The acquisition is based on an enterprise value of Rs 1,660 crore, reflecting JHL's strong market position, which includes two operational hospitals i.e. 500-bedsJaypee Hospital, Noida and 200-beds Jaypee Hospital Bulandshahr, built on land parcel of 18 acre and 5.75 acre respectively. Further JHL also owns a 100-beds hospital spread over 2.35 acres at Anoopshahar, which is currently non-operational. JHL reported revenue of Rs 421 crore and EBITDA of Rs 70 crore for the year 2023-24. The transaction, which includes the Strategic Collaboration Agreement and the acquisition of JHL's stake held by financial creditors, shall be consummated in next thirty days in line with the revival plan approved by the Hon'ble National Company Law Appellate Tribunal (NCLAT). The revival plan is designed to provide sustainability to the operations of Jaypee Hospitals through appropriate measures to enhance operational efficiency while building confidence among various stakeholders. With the proposed transaction and collaboration with Max Healthcare as strategic partner to the revival plan, JHL is well positioned for potential growth and continued services to the community.Powered by Capital Market - Live

Max Healthcare Institute announced that the 23th Annual General Meeting (AGM) of the company will be held on 20 September 2024.Powered by Capital Market - Live

Net profit of Max Healthcare Institute declined 1.59% to Rs 236.27 crore in the quarter ended June 2024 as against Rs 240.08 crore during the previous quarter ended June 2023. Sales rose 20.07% to Rs 1542.95 crore in the quarter ended June 2024 as against Rs 1284.99 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales1542.951284.99 20 OPM %25.1126.26 - PBDT398.21359.31 11 PBT321.31303.49 6 NP236.27240.08 -2 Powered by Capital Market - Live