Max Ventures and Industries Ltd Merged Company Summary

Max Ventures and Industries Ltd Merged Summary

Max Ventures and Industries Limited was originally incorporated as Capricorn Ventures Limited on January 20, 2015, which got renamed to Max Ventures and Industries Limited on January 22, 2016. The Company is primarily engaged in making business investments and providing shared services to the group companies. The Companys shares got listed on National Stock Exchange and Bombay Stock Exchange as on June 22, 2016.Max Ventures and Industries Limited, a part of the US$ 2 billion Max Group, is the Holding Company for Max Speciality Films, an innovation leader in the Speciality Packaging Films business. In addition to manufacturing, the Company serves as the Groups entrepreneurial arm to explore the wider world of business, especially taking cues from the economic and commercial reforms agenda of the present Government and the positive initiatives of the Prime Minister, including Make in India, Skill India, Digital India, among others. The other entities in the Max Group are Max Financial Services Limited, which house the life insurance business and Max India Limited, which houses subsidiaries in healthcare, health insurance and senior living.Through the Composite Scheme of Arrangement between Max Financial Services Limited (MFSL), Max India Limited (MIL) and the Company, Max Financial Services Limited demerged its activities relating to Speciality Films, into the Company in 2015-16. Accordingly, the Investment held by MFSL in Max Speciality Films Limited was transferred to the Company effective from April 01, 2015. Max Speciality Films Ltd became subsidiary of the Company effective April1,2015. In terms of the said Scheme, the Company issued and allotted a total of 53,396,800 equity shares on March 7, 2016, in the ratio of 1 equity share of Rs. 10 each fully paid up of the Company for every 5 equity share of Rs. 2 each fully paid up, held by the shareholders in MFSL on January 28, 2016. Further, the Company incorporated wholly owned subsidiaries namely, Max Estates Limited on March 22, 2016; and MAX I. Limited on June 23, 2016, Max Learning Limited was incorporated on August 23, 2016.Further during the period 2016, the Company amended the objects clause of its Memorandum of Association, inter-alia, to include few more objects like carrying out of activities relating to packaging materials, packaging systems, real estate business, management and consultancy services, education and learning, hospitality, electronic appliances & electrical equipments and promoting, holding and nurturing of companies having similar objects as that of the Company.