max-india-raises-240-million-from-qip

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 transaction completed with a sole bookrunner in India in the past five years, making the deal something of a coup for CLSA.

The price was fixed at Rs240, or just below the mid-point of...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222