Max Estates Limited ("Max Estates") announced the successful closure of the transaction with New York Life Insurance Company acquiring 49% stake in Max Towers and Max House (Phase I & II), by deploying Rs 391 Crore, marking a key milestone in the partnership. Both are rent-yielding operational commercial assets located in Noida and Delhi. Max Estates continue to hold a 51% stake in both SPVs.
With this investment, NYL has now committed a cumulative amount of Rs 1200 Crore with Max Estates. This infusion of capital enhances Max Estates’ ability to accelerate its growth plans across both commercial and residential real estate segments.
Following the Qualified Institutional Placement (QIP), Max Estates now has an Equity growth capital of more than Rs 1200 Crore, which will be instrumental in expanding its operations and seizing new opportunities in the real estate sector.
The plan is to allocate a significant portion of these funds to support its expansion into the rapidly growing residential market and seize emerging opportunities. This strategic investment will also help Max Estates achieve its goal of acquiring at least 3 million square feet of development opportunities annually while reshaping the future of real estate in the NCR Region.”
