Goldman Sachs Subsidiary Lowers Stake In Max Ventures

Goldman Sachs Subsidiary Lowers Stake In Max Ventures

Max India demerged into three separate companies in January.

New Delhi: Goldman Sachs subsidiary Xenok, along with Mauritius-based GS Mace Holdings, has pared its stake further in Max Ventures and Industries.

"...our holdings have decreased to 3,398,046 shares, representing 6.364 per cent of the capital of the Company (Max Ventures) as at September 29, 2016. As such we are a substantial shareholder of the company," G S Mace Holdings said in a regulatory filing.

The companies sold 11,19,087 shares, or 2.095 per cent, on September 29 through open market transactions.

Earlier in September they had together shed a 2.88 per cent stake in Max Ventures and Industries, bringing it down to over 8.45.

In August, both the companies had brought down their collective holdings in Max Ventures to 11.34 per cent.

Mauritius-based GS Mace compiles business data about US-based companies while Xenok is a wholly-owned subsidiary of Goldman Sachs Capital Partners VI Fund.

In June 2011, the then Max India had allotted 24,079,700 shares, representing about 9.4 per cent stake to Xenok Ltd. 

Max India demerged into three separate companies in January this year. The three demerged entities are Max Ventures, Max Financial Services and Max India Ltd. 

Shares in Max Ventures ended 2.48 per cent higher at Rs 51.65 apiece on the BSE, whose benchmark Sensex index finished up 1.35 per cent. 
Listen to the latest songs, only on JioSaavn.com