Max Financial Services Limited — Major Shareholding Notification 2021

Jul 13, 2021

IDBI Trusteeship Services Ltd CIN: U65991MH2001GOI131154

Date: July 13, 2021

BSE Limited	National Stock Exchange of India Ltd.
Phiroze Jeejeebhoy Towers	Exchange Plaza,
Dalal Street	Plot no. C/1, G Block,
Mumbai-400001	Bandra-Kurla Complex
	Bandra (E)
	Mumbai - 400 051
Max Financial Services Limited
Max Tower, Level 12, Plot No. C001/A,
Sector-16B, Noida, Uttar Pradesh-201301

Dear Sir/Madam,

Sub: Disclosure pursuant to Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 in relation to pledge of equity shares of Max Financial Services Limited.

Pursuant to the disclosure required to be made under Regulation 29(1) and (2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, please find attached the disclosure in respect of the pledge of equity shares of Max Financial Services Limited in favour of IDBI Trusteeship Services Limited (ITSL) acting in its capacity as Security Trustee for the benefit of Lenders.

For and on behalf of

IDBI Trusteeship Services Ltd

Authorized Signatory

Format for disclosures under Regulation 29(2) and of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Part-A-Details of Acquisition

1. Name of the Target Company (TC)	Max Financial Services Limited
2. Name(s) of the acquirer and Persons Acting in Concert (PAC) with the acquirer	IDBI Trusteeship Services Limited
3. Whether the acquirer belongs to Promoter/Promoter group	No. IDBI Trusteeship Services Limited is acting as Security Trustee for various NCDs, wherein the shares of the target company have been pledged pursuant to respective share pledge agreements.
4. Name(s) of the Stock Exchange(s) where the shares of TC are Listed	BSE Limited, National Stock Exchange of India Limited
5. Details of the acquisition as follows	Number	% w.r.t. total share/voting capital wherever applicable	% w.r.t. total diluted share/voting capital of the $TC(*)$
Before the acquisition / release of shares under consideration, holding of acquirer along with PACs of: Shares carrying voting rights a)
Shares in nature of encumbrance b) (pledge/lien/non-disposal undertaking/others) Voting rights (VR) otherwise than C) by shares Warrants/convertible securities/ d) any other instrument that entities the acquirer to receive shares carrying voting rights in the TC (specify holding in each category)	20,98,096	0.61%	0.61%
Total (a+b+c+d) e)	20,98,096	0.61%	0.61%
Details of Release of shares under consideration Shares carrying voting rights a) acquired/sold b) VRs acquired/sold otherwise than by shares

$\mathsf{c}$ d)	Warrants/convertible securities/any other instrument that entitles the acquirer to receive shares carrying voting rights in the TC (specify holding in each category) acquired/sold Shares in nature of encumbrance (pledge/lien/non-disposal	20,98,096	0.61%
	undertaking/others)			0.61%
e)	Total (a+b+c+d) After the release under consideration	20,98,096	0.61%	0.61%
a) b) $\mathsf{c}$ d)	holding of acquirer along with PACs of: Shares carrying voting rights VRs otherwise than by shares Warrants/convertible securities/any other instrument that entitles the acquirer to receive shares carrying voting rights in the TC (specify holding in each category) after acquisition. Shares in nature of encumbrance (pledge/lien/non-disposal undertaking/others)	NIL	NIL	NIL
$\mathbf{e}$	Total (a+b+c+d)	NIL	Nil	NIL
$etc.$ )	6. Mode of Release/invocation (e.g. open market / public issue / rights issue / preferential allotment / inter-se transfer	20,98,096 Equity shares of MFSL are release on the instruction of the Lender
shares, etc.	7. Salient features of the securities acquired including time till redemption, ratio at which it can be converted into equity	20,98,096 Equity shares of MFSL are release on the instruction of the Lender
applicable	8. Date of acquisition / sale release of shares / VR or date of receipt of intimation of allotment of shares, whichever is	08.07.2021
	9. Equity share capital /total voting capital of the TC before the said acquisition/ sale	34,50,90,302 (consisting of Rs. 2 each) as disclosed in the shareholding pattern March 31, 2021 dated

	disclosed on the website of
	BSE Limited
10. Equity share capital/ total voting capital	34,50,90,302 (consisting of
of the TC after the said acquisition/sale	Rs. 2 each) as disclosed in
	the shareholding pattern
	dated March 31, 2021
	disclosed on the website of
	BSE Limited
11. Total diluted share/voting capital of the	34,50,90,302 (consisting of
TC after the said acquisition/sale.	Rs. 2 each) as disclosed in
	the shareholding pattern
	dated March 31, 2021
	disclosed on the website of
	BSE Limited

Note:

• 20,98,096 Equity shares of MFSL are release on the instruction of the Lender $\bullet$
• Diluted share/voting capital means the total number of shares in the TC assuming full conversion of the outstanding convertible securities/warrants into equity shares of the TC.
• These shares are pledged for different transactions involving lenders and there is no nexus/inter connection between those transactions and present transactions.
• Part-B shall be disclosed to the Stock Exchanges but shall not be disseminated.
• We are the Trustees and holding the shares by way of Share Pledge as Security and we do not have any $\bullet$ intention of making investment in shares or acquisition of shares for trading. It is not the business or activity of ITSL to deal in any shares. ITSL does not operate and acquire any shares by purchasing or buying from the Securities Market. ITSL need to sell the Pledged shares only when the Borrower has committed default in payment of interest or repayment of principal and in no other case. The sole purpose of the sale is to recover the defaulted dues of the Lenders and not for making any gain.