Max Ventures and Industries Ltd (MVIL), one of the three holding companies formed after the demerger of the erstwhile Max India Ltd earlier this year, will look at investing in new sectors, including education, real estate and technology as it gears to get listed on the bourses on Wednesday.
MVIL, which manages the investment in its manufacturing subsidiary Max Speciality Films, will be the second company to start trading on the bourses after the demerger, Max Financial Services (previously known as Max India Ltd) said in a filing to the stock exchanges.
Max Financial Services, which focuses solely on the group's flagship life insurance activity through its majority holding in Max Life, had already started trading after the demerger in January.
The third unit—Max India Ltd—which houses investments in the health verticals, including hospital chain operator Max Healthcare, health insurance JV Max Bupa and Antara Senior Living, will be listed shortly, it added.
Entry into new sectors
MVIL recently set up a wholly-owned subsidiary Max Estates Ltd, which will undertake real estate development projects, and will also explore investments in other sectors.
"It (MVIL) aims to evaluate new ideas in the ‘wider world of business’, including but not limited to sectors such as education, real estate and technology, taking cues from the economic and commercial reforms agenda of the government, including ‘Make in India’, ‘Skill India’, ‘Digital India’, among others," the company said.
It also recently announced its intent to invest in Azure Hospitality Pvt Ltd, which owns and operates Mamagoto, a mid-scale casual dining restaurant chain for Indian and Chinese street food and an institutional catering service.
“MVIL will be our vehicle to pursue formats in areas which either have adjacencies to our businesses or where we have long-standing experience,” said Analjit Singh, founder and chairman emeritus, Max Group, and chairman MVIL.
Like this report? Sign up for our daily newsletter to get our top reports.