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Max Financial Services Limited Major Shareholding Notification 2021
60505_rns_2021-08-09_65b1b628-ac4e-49ec-8179-10717205feef.pdf
Major Shareholding Notification
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MAX VENTURES INVESTMENT HOLDINGS PRIVATE LIMITED
Registered Office: Max House, 1, Dr. Jha Marg, Okhla, New Delhi – 110 020
Phone : +91 11 4259 8000 Fax: +91 11 4060 0098
CIN: U74899DL1988PTC030778 Email Id: [email protected]
August 09, 2021
| Listing Department | Listing Department | The Secretary |
|---|---|---|
| BSE Limited | National Stock Exchange of India | Max Financial |
| Phiroze Jeejeebhoy Towers | Limited | Services Limited |
| Dalal Street | Exchange Plaza, Bandra Kurla | Railmajra, Tehsil |
| Mumbai – 400021 | Complex, | Balachaur, Distt. |
| Bandra (East) | Nawanshahr | |
| Mumbai - 400051 | Punjab - 144533 |
Dear Sir / Madam,
SUB. DISCLOSURE UNDER REGULATION 31(1) AND 31(2) OF SEBI (SAST) REGULATIONS, 2011
Please find enclosed disclosures in terms of Regulation 31(1) and 31(2) of SEBI (SAST) Regulations, 2011.
Also find enclosed Annexure II in terms of SEBI Circular No. SEBI/HO/CFD/DCR1/CIR/P/2019/90 dated August 7, 2019.
You are requested to take note of the above.
Thanking you.
Yours faithfully, For Max Ventures Investment Holdings Pvt. Ltd.
md
Arvind Aggarwal (Director)
Encl. as above
| 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 Name of the Target Company (TC) |
Max Financial Services Ltd | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Names of the Stock Exchanges where the shares of the target company are listed | BSE Ltd. & National Stock Exchange of India Ltd | ||||||||||||
| Date of reporting | August 09, 2021 | ||||||||||||
| Name of the promoter or PAC on whose shares encumbrance has been created/ released/invoked | Max Ventures Investment Holdings Private Limited | ||||||||||||
| Details of the creation of encumbrances | |||||||||||||
| promoter(s) or Name of the |
Promoter holding in the |
Promoter holding already |
Details of events pertaining to encumbrance (3) | Post event holding of encumbered shares |
|||||||||
| PACs with him $\binom{*}{k}$ |
target company (1) | encumbered (2) | $invocation[(1)-(3)]$ $ {\rm creation}$ $ (2)+3 $ release $[2]$ - $(3)]$ |
||||||||||
| Number | $\%$ of | Number | $\frac{9}{6}$ of total | Type of | Date of | Type of | Reasons for | Number | $^{9/6}$ of | Name of the entity | Number | $\frac{1}{2}$ of total | |
| share total |
capital share |
creation event |
$\mbox{creation/}$ invocation | encumbranc | encumbrance* | capital share |
in whose favour shares |
capital share |
|||||
| capital | Invocation) Release |
encumbrance release of |
lisen/non $(\text{pledge}/$ |
encumbered*** | |||||||||
| Undertakings disposal |
|||||||||||||
| (others) | |||||||||||||
| Max Ventures | 50380920 | 14.60% | 27386941 | 7.95% | Release of | 06.08.2021 | Release of | In terms of | 110000 | $0.03\%$ | STCI Lender: |
27276941 | 7.92% |
| Holdings Pvt. Ltd Investment |
Pledge on Shares |
pledge on Shares |
Agreement Loan |
Finance Ltd | |||||||||
| Trustee: N.A. | |||||||||||||
| Mr. Analjit Singh |
110000 | $0.03\%$ | Z | Z | |||||||||
| Analjit Singh Mrs. Neelu |
100000 | $0.03\%$ | EN | Nil | |||||||||
| Ms. Piya Singh | 110333 | $0.03\%$ | ΣÏ | $\overline{N}$ | |||||||||
| Mrs. Tara Singh Vachani |
100000 | $0.03\%$ | Nil | Z | |||||||||
For MAX VENTURES INVESTMENT HOLDINGS PRIVATE LIMITED
$\mathsf{Q}$ le prof
ARVIND AGGARWAL
DIRECTOR
Place: Noida
Date: August 09, 2021
The names of all the Promoters, their shareholding in the target company and their pledged shareholding as on the reporting date should appear in the table irrespective of whether they are reporting
loans taken by the comp $\begin{array}{cc} * & * \ * & * \end{array}$ $\star$
Annexure - II
Format for disclosure of reasons for encumbrance
(In addition to Annexure - I prescribed by way of circular dated August 05, 2015)
| Name of listed company | Max Financial Services Ltd |
|---|---|
| Name of the recognised stock exchanges where the | BSE Ltd. & National Stock Exchange of India Ltd. |
| shares of the company are listed | |
| Name of the promoter(s) / PACs whose shares have been Refer Annexure - IIA | |
| encumbered | |
| Total promoter shareholding in the listed company | No. of shares - 5,08,01,253 |
| % of total share capital - 14.72% | |
| Encumbered shares as a % of promoter shareholding | a) Pledge of Shares - 53.69% |
| b) Covenant with certain lenders to keep shares | |
| free from any encumbrance through Free Share | |
| obligation / non-disposal undertakings | |
| Whether encumbered share is 50% or more of promoter | YES |
| shareholding | |
| Whether encumbered share is 20% or more of total share NO | |
| capital |
$FU$
ANNEXURE - IIA
Name of the Promoter(s) / PACs whose shares have been encumbered
| S. NO. | INAME | NO. OF SHARES | % |
|---|---|---|---|
| JANALJIT SINGH | 1.10.000 | 0.03 | |
| INEELU ANALJIT SINGH | 1,00,000 | 0.03 | |
| PIYA SINGH | 1,10,333 | 0.03 | |
| TARA SINGH VACHANI | 1,00,000 | 0.03 | |
| IMAX VENTURES INVESTMENT HOLDINGS PRIVATE LIMITED | 5,03,80,920 | 14.60 | |
| TOTAL | 5,08,01,253 | 14.72 |
$\rightarrow 0$
| į |
|---|
| $. 1.7 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0$ |
| i all e |
| raile. |
| Details of all existing events / agreements pertaining to encumberance | ||||||||
|---|---|---|---|---|---|---|---|---|
| Date of creation of encumbrance / date of agreement | $\mathbf{r}$ Encumbrance 27.08.2019 |
Encumbrance 2 27.08.2020 |
Encumbrance 3 07.09.2020 |
Encumbrance 4 18.09.2020 |
Encumbrance 5 | Encumbrance 6 | Encumbrance 7 | |
| Type of encumbrance (pledge, lien, negative lien, non-disposal undertaking etc. or any other covenant, | Pledge | Pledge | Pledge | Pledge | 29.10.2020 Pledge |
Free shares covenant 29.10.2020 |
27.01.2021 Pledge |
|
| transaction, condition or arrangement in the nature of encumbrance) | ||||||||
| No. of shares encumbered | 10,00,000 | 3,60,000 | 2,40,000 | 2,45,902 | 59,50,000 | 76,20,188 | 31,12,679 | |
| % of shares encumbered | 0.29 | 0.10 | 0.07 | 0.07 | 1.72 | 2.21 | 0.90 | |
| Specific details about the encumbrance |
Name of the entity in whose favour shares encumbered (X) | $\delta$ behalf of Yes Bank Ltd. Vistra ITCL (India) Ltd. |
Virtue Financial Services Private Limited |
Services Private Virtue Financial Limited |
Sara Universal Private Limited on behalf of Sara International Private Limited |
on behalf of Tata Capital Catalyst Trusteeship Ltd Housing Finance Limited Financial Services Ltd and Tata Capital |
Catalyst Trusteeship Ltd on behalf of Tata Capital Financial Services Ltd. |
Hero Fincorp Ltd. |
| institution, NBFC or housing finance company? If No, provide the nature of the Whether the entity X is a scheduled commercial bank, public financial business of the entity. |
Yes | Yes | Yes | Yes | Yes | Yes | Yes | |
| Names of all other entities in the agreement | Vana Enterprises Limited | Max Ventures Investment Holdings Private Limited |
Investment Holdings Private Limited Max Ventures |
Investment Holdings Private Limited Max Ventures |
Investment Holdings Private Limited Max Ventures |
Investment Holdings Private Limited Max Ventures |
Max Ventures Investment Holdings Private Limited |
|
| Whether the encumbrance is relating to any debt instruments viz. debenture, commercial paper, certificate of deposit etc.? If yes, provide details about the instrument, including credit rating . If yes, |
$\frac{1}{2}$ | Ş | 2 | $\frac{1}{2}$ | å | $\frac{1}{2}$ | $\frac{0}{2}$ | |
| 1. Name of the issuer | ||||||||
| 2. Details of the debt instrument | ||||||||
| 3. Whether the debt instrument is listed on stock exchanges? | ||||||||
| 4. Credit Rating of the debt instrument? 5. ISIN of the instrument |
||||||||
| Security Cover / Asset | Value of shares on the date of event / agreement (A) | ,00,000 1,08,81 |
39,17,16,000 | 26,11,44,000 | 26,75,65,966 | |||
| Cover | Amount involved (against which shares have been encumbered) (B) | 45,00,00,000 | 6,47,41,95,000 | 8,29,15,26,508 | 3,38,69,06,020 | |||
| Ratio of A / B | 2.42 | 10,00,00,000 2.59 |
10,00,00,000 2.68 |
2,97,50,00,000 2.18 |
2,97,50,00,000 2.79 |
1,50,00,00,000 2.26 |
||
| End use of money | Borrowed amount to be utilized for what purpose (a) Personal use by promoters and PACs (b) For the benefit of listed company |
Personal use by promoters and PACs |
Personal use by promoters and PACs |
promoters and PACs Personal use by |
promoters and PACs Personal use by |
promoters and PACs Personal use by |
promoters and PACs Personal use by |
promoters and PACs Personal use by |
| Provide details including amount, purpose of raising money by listed company, schedule for utilization of amount, repayment schedule etc. (a) Any other reason (please specify) |
$\frac{1}{2}$
| ï |
|---|
| -------- |
| Details of all existing events / agreements pertaining to encumberance | Encumbrance 8 | Encumbrance 9 | Encumbrance 10 | Encumbrance 11 | Encumbrance 12 | Encumbrance 13 | Encumbrance 14 | |
|---|---|---|---|---|---|---|---|---|
| Date of creation of encumbrance / date of agreement | 02.02.2021 | 07.03.2021 | 09.03.2021 | 26.03.2021 | 18.05.2021 | 18.05.2021 | 28.05.2021 | |
| Type of encumbrance (pledge, lien, negative lien, non-disposal undertaking etc. or any other covenant, transaction, condition or arrangement in the nature of encumbrance) |
Pledge | Free shares covenant | Pledge | Pledge | Pledge | Free shares covenant | Pledge | |
| No. of shares encumbered | 11,90,000 | 76,20,188 | 75,05,600 | 12,45,072 | 14,31,818 | 50,80,125 | 5,65,000 | |
| % of shares encumbered | 0.34 | 2.21 | 2.17 | 0.36 | 0.41 | 1.47 | 0.16 | |
| Specific details about the encumbrance |
Name of the entity in whose favour shares encumbered (X) | Aditya Birla Finance Limited | Catalyst Trusteeship Limited Investment Fund; and (ii) on behalf of (i) ESOF III ECL Finance Limited |
Limited on behalf of (i) Catalyst Trusteeship ESOF III Investment Fund; and (ii) ECL Finance Limited |
Hero Fincorp Ltd. | Infina Finance Private Ltd Infina Finance Private Ltd | Shine Star Build Cap. (P) Ltd. |
|
| institution, NBFC or housing finance company? If No, provide the nature of the Whether the entity X is a scheduled commercial bank, public financial business of the entity. |
Yes | (i) ESOF III Investment Fund Finance Limited is a NBFC is an AIF; and (ii) ECL |
ECL Finance Limited is a (i) ESOF III Investment Fund is an AIF; and (ii) NBFC |
Yes | Yes | Yes | Yes | |
| Names of all other entities in the agreement | Max Ventures Investment Holdings Private Limited |
None | None | None | None | None | None | |
| commercial paper, certificate of deposit etc.? If yes, provide details about the Whether the encumbrance is relating to any debt instruments viz. debenture, instrument, including credit rating. If yes, |
$\frac{1}{2}$ | Yes | Yes | $\frac{1}{2}$ | $\frac{1}{2}$ | $\frac{1}{2}$ | $\frac{0}{2}$ | |
| 1. Name of the issuer | Max Ventures Investment Holdings Pvt. Ltd. |
Investment Holdings Max Ventures Pvt. Ltd. |
||||||
| 2. Details of the debt instrument | 40,000 unlisted redeemable non-convertible debentures |
convertible debentures redeemable non- 40,000 unlisted |
||||||
| 3. Whether the debt instrument is listed on stock exchanges? | Unlisted | Unlisted | ||||||
| 4. Credit Rating of the debt instrument? | Unrated | Unrated | ||||||
| 5. ISIN of the instrument | 4. INE709V07060 6. INE709V07086 2. INE709V07045 3. INE709V07052 5. INE709V07078 7. INE709V07094 1. INE709V07037 |
4. INE709V07060 5. INE709V07078 6. INE709V07086 2. INE709V07045 3. INE709V07052 7. INE709V07094 1. INE709V07037 |
||||||
| Security Cover / Asset | Value of shares on the date of event / agreement (A) | 1,29,48,39,000 | 8,29,15,26,508 | 8,16,68,43,360 | 1,35,47,62,843 | 1,55,79,61,166 | 5,52,76,84,339 | 61,47,76,500 |
| Cover | Amount involved (against which shares have been encumbered) (B) | 55,00,00,000 | 4,00,00,00,000 | 4,00,00,00,000 | 60,00,00,000 | 75,00,00,000 | 75,00,00,000 | 25,00,00,000 |
| Ratio of A / B | 2.35 | 2.07 | 2.04 | 2.26 | 2.08 | 7.37 | 2.46 | |
| End use of money | Borrowed amount to be utilized for what purpose (a) Personal use by promoters and PACs (b) For the benefit of listed company |
Personal use by promoters and PACs |
Personal use by promoters and PACs |
promoters and PACs Personal use by |
Personal use by promoters and Personal use by PACs |
promoters and PACs | promoters and PACs Personal use by |
promoters and PACs Personal use by |
| Provide details including amount, purpose of raising money by listed company, schedule for utilization of amount, repayment schedule etc. (a) Any other reason (please specify) |
||||||||
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| Date of creation of encumbrance / date of agreement | 15.06.2021 | 30.06.2021 | |
|---|---|---|---|
| Type of encumbrance (pledge, lien, negative lien, non-disposal undertaking etc. or any other covenant, | Pledge | Pledge | |
| transaction, condition or arrangement in the nature of encumbrance) | |||
| No. of shares encumbered | 20,30,870 | 24,00,000 | |
| % of shares encumbered | 0.59 | 0.70 | |
| Specific details about the | Name of the entity in whose favour shares encumbered (X) | STCI Finance Ltd | Vistra ITCL India Pvt Ltd |
| encumbrance | Asia-Pacific Private Credit on behalf of BlackRock |
||
| Opp. Fund II (SG) VCC | |||
| institution, NBFC or housing finance company? If No, provide the nature of the Whether the entity X is a scheduled commercial bank, public financial business of the entity. |
Yes | No. The entity is an AIF | |
| Names of all other entities in the agreement | None | None | |
| commercial paper, certificate of deposit etc.? If yes, provide details about the Whether the encumbrance is relating to any debt instruments viz. debenture, instrument, including credit rating. If yes, |
$\frac{1}{2}$ | Yes | |
| 1. Name of the issuer | Max Ventures Investment Holdings Pvt. Ltd. |
||
| 2. Details of the debt instrument | convertible debentures redeemable non- 1,400 unlisted |
||
| 3. Whether the debt instrument is listed on stock exchanges? | Unlisted | ||
| 4. Credit Rating of the debt instrument? | Unrated | ||
| 5. ISIN of the instrument | 2. INE709V07110 1. INE709V07102 |
||
| 3. INE709V07128 | |||
| Security Cover / Asset | Value of shares on the date of event / agreement (A) | 2,20,97,89,647 | 2,61,14,40,000 |
| Cover | Amount involved (against which shares have been encumbered) (B) | 1,00,00,00,000 | 1,40,00,00,000 |
| Ratio of A / B | 2.21 | 1.87 | |
| End use of money | Borrowed amount to be utilized for what purpose (a) Personal use by promoters and PACs (b) For the benefit of listed company |
promoters and PACs Personal use by |
promoters and PACs Personal use by |
| Provide details including amount, purpose of raising money by listed company, schedule for utilization of amount, repayment schedule etc. (a) Any other reason (please specify) |
|||
$\sum$