Why have the promoters of Max Ventures sold shares of Rs.800 crore?
Answer
Answer
Max Ventures, the promoter of Max Financial Services, sold shares worth Rs.783 crore through open market transactions. The promotes effectively sold around 78.3 lakh shares for an average price of Rs.1000.80. Among the key buyers of the stock in the deal was Government of Singapore which acquired 60 lakh or close to 80% of the offering.