JM Financial Products has divested its entire 1.992% stake in Max India through open market transactions. The non-banking finance company has sold 52.90 lakh shares of Max India for Rs 99.98 crore.
The shares were sold to Dynavest India, one of the promoter group firms of Max India, on an average price of Rs 189 per share.
Max India is a multi-business enterprise. The company has business interest in area of life insurance, healthcare and clinical research. Max India holds 91% equity stake in Max Healthcare Institute.
