Max Estates Ltd completes acquisition of 100% in Accord Hotels and Resorts Pvt Ltd

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Max Estates Limited, wholly-owned subsidiary of Max Ventures and Industries Limited has completed the acquisition of 100% equity share capital of Accord Hotels and Resorts Private Limited on June 17, 2022 for an aggregate consideration of INR 293 Crore. Consequent to the completion of acquisition, Accord Hotels and Resorts Private Limited has become a step down wholly owned subsidiary of the Company through Max Estates Limited with effect from June 17, 2022.

The reason to acquire Accord Hotels and Resorts Private Limited is to use its only asset i.e. a ~10 acre land parcel located in Sector 128, Noida for the purpose of developing a mixed use residential community with an estimated saleable area of ~1 Mn Sq. Ft.

Shares of Max Ventures and Industries Limited was last trading in BSE at ₹91.00 as compared to the previous close of ₹92.00. The total number of shares traded during the day was 1213 in over 154 trades.

The stock last hit in BSE,

  • Intraday High of ₹ 95.60
  • Intraday low of ₹ 90.00