Shares of Max Financial Services shed almost 4 percent in intra-day deals on Thursday, July 17 after ICICI Prudential Mutual Fund pared its stake in in the firm, decreasing shareholding by over 2 percent.
Prior to the sale, ICICI Prudential Mutual Fund held 2,03,51,566 equity shares in Max Financial Services, which accounted for 5.90 percent of the company’s total shareholding. According to the disclosure filed with the exchanges, the mutual fund offloaded 71,69,992 shares of the company or as much as 2.08 percent stake
This sale brought down its total holding to 3.82 percent of the total paid-up equity share capital of Max Financial Services Ltd. It now holds 1,31,81,574 shares of Max.
The transaction took place on both the BSE and the National Stock Exchange (NSE), where the company’s shares are listed. The mutual fund clarified that the sale only involved equity shares carrying voting rights, with no warrants, convertible securities, or other instruments involved.
This move comes amid increasing scrutiny and regulatory transparency requirements for significant changes in shareholding of listed companies. The reduction in stake was part of routine fund management activity and no specific reason was cited for the sale.
Max Financial Services, a key player in the life insurance and financial services space, has seen steady investor interest. ICICI Prudential Mutual Fund’s decision to reduce its exposure may reflect a strategic rebalancing of its investment portfolio.
Stock Price Trend
Max Financial fell as much as 3.7 percent to its day’s low of ₹1511.20. It is now over 9 percent away from its 52-week high of ₹1,668.95, hit in July 2025. Meanwhile, it touched its 52-week low of ₹972.55 in March 2025.
In the last 1 year, the stock has soared 51 percent. Meanwhile, just in July, it fell 8 percent, after 4 months of gains. It added 9.6 percent in June, 15 percent in May, 14 percent in April and 15 percent in March. Before that, it fell 10.5 percent in February and was flat in January.
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