Max India Ltd has informed the Exchange that "In terms of the approval accorded by the shareholders in the extra-ordinary general meeting of the Company held on January 22, 2010 and pursuant to the approvals received from stock exchanges where the company's shares are listed, Dynavest India Private Limited, one of the promoter group companies has remitted a sum of Rs. 86.70 crores, being 50% of the face value of warrants for subscription to 2,000,000 (Two million) Warrants of a face value of Rs. 867/- each of the Company. Each warrant entitles the holder thereof to subscribe to four equity share of Rs.2/- each of the Company at a premium of Rs. 214.75 per equity share .The Board of Directors of the Company has approved the allotment of aforesaid 2,000,000 (Two million) Warrants of a face value of Rs. 867/-each of the Company to Dynavest India Private Limited on February 6, 2010.
Source: NSECourtesy moneycontrol.com
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