Max India shares listed on bourses on Thursday and became the third company of the group to be traded on the bourses after the demerger.
The scrip opened at Rs 195 on BSE. On NSE, shares of the company listed at Rs 180.
Max India is the parent company Max Healthcare, Max Bupa Health Insurance and Antara Senior Living.
Post the demerger of erstwhile Max India, Max Financial Services and Max Ventures and Industries have already started trading from January and June this year.
Max Group has presence in life insurance, healthcare and allied businesses and packaging sectors.
Later, the scrip closed 5 per cent down at Rs 171 on NSE.