Max India raises $240 million from QIP

The insurance and healthcare provider prices the fully marketed deal just below the mid-point of the range.

Indian insurance and healthcare provider Max India has raised Rs10 billion about $240 million from a qualified institutional placement QIP, which marks the companyÆs first foray into the international capital markets since it listed in 1989.

The CLSA-led offering is the second largest QIP by an Indian issuer since new regulations were put in place in the first half of last year to make these types of transactions possible. According to bankers, it is also the largest equity...

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