Max Ventures and Industries : Acquisition

	June 18, 2022
Listing Department	Listing Department
BSE Limited	National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers	Exchange Plaza, Bandra Kurla Complex,
Dalal Street	Bandra (East)
Mumbai - 400 001	Mumbai - 400051
Scrip Code: 539940	Name of Scrip: MAXVIL

Sub.: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations") - Acquisition

Dear Sir/ Madam,

This is in furtherance to our disclosure dated June 05, 2022 regarding execution of a Share Purchase Agreement on June 4, 2022 by Max Estates Limited, a wholly owned subsidiary of the Company for acquisition of the 100% equity share capital of Accord Hotels and Resorts Private Limited.

In this regard, pursuant to the Regulation 30 of the Listing Regulations, we wish to inform that Max Estates Limited has completed the acquisition of 100% equity share capital of Accord Hotels and Resorts Private Limited on June 17, 2022 for an aggregate consideration of INR 293 Crore. Consequent to the completion of acquisition, Accord Hotels and Resorts Private Limited has become a step down wholly owned subsidiary of the Company through Max Estates Limited with effect from June 17, 2022.

The reason to acquire Accord Hotels and Resorts Private Limited is to use its only asset i.e. a ~10 acre land parcel located in Sector 128, Noida for the purpose of developing a mixed use residential community with an estimated saleable area of ~1 Mn Sq. Ft.

The information as required under Annexure I of the Circular no. CIR/CFD/CMD/4/2015 issued by SEBI on September 09, 2015 was earlier submitted with the Stock Exchanges vide our letter dated June 05, 2022.

You are requested to take the same on records.

Thanking you,

Yours faithfully

For Max Ventures and Industries Limited

Ankit Jain

Company Secretary and Compliance Officer