Max Financial Services on Friday said its promoter group firm has sold a 3.19 per cent stake to repay their debt. Max Ventures Investment Holdings Pvt Ltd, a promoter company of Max Financial Services Ltd, sold 1.10 crore equity shares or 3.19 per cent in Max Financial Services on September 5.
“The promoters have cleared all its debt and the pledge of shares held by the promoter in the target company (Max Financial Services) will be Nil,” Max Financial said in a BSE filing.
After the share sale, Max Ventures Investment Holdings Pvt Ltd’s stake was reduced to 3.22 per cent from 6.40 per cent in Max Financial Services.
