Max Ventures and Industries is the second company to start trading on the bourses after the demerger of the erstwhile Max India.
Shares of Max Ventures and Industries, one of the three new holding companies formed after demerger of the erstwhile Max India Limited, listed on bourses on Wednesday at Rs 45.
Later, the scrip surged surged 5 per cent to Rs 47.25 against the list price and locked at upper circuit on BSE and NSE both.
Max Ventures and Industries (MVIL) is the second company to start trading on the bourses after the demerger of the erstwhile Max India. Max Financial Services, (previously known as Max India Limited) had already started trading post demerger on January, 2016.
MVIL provides management services and manages the investment in its manufacturing subsidiary, Max Speciality Films (MSF), which is in the Speciality Packaging Films business.
The company recently incorporated a wholly-owned subsidiary, Max Estates Limited, which will undertake Real Estate development projects.
MVIL had also recently announced its intent to invest in Azure Hospitality Pvt Ltd through its wholly owned investment subsidiary.
(With agency inputs)