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Max Group
Company typePublic
IndustryConglomerate
Founded1985; 39 years ago (1985)
FounderAnaljit Singh
HeadquartersMax House, New Delhi, India
Area served
India
Key people
Analjit Singh (group chairman)[1]
Rahul Khosla (group president)
Mohit Talwar(group vice-chairman)
Products
RevenueIncrease US$3.2 billion[2] (2019)
Number of employees
27,000 (2019)[3]
Subsidiaries
Websitewww.maxgroup.in

Max Group is an Indian conglomerate headquartered in New Delhi, India, operating in the fields of life insurance, healthcare, hospitality, real estate and independent senior living.[4] It was founded in 1985 by Analjit Singh.[1]

Max's subsidiaries include Max Healthcare, Max Bupa, Max Life Insurance, Max Financial Services, Max Ventures and Industries, Max India, Max Speciality Films, Max Estates, Antara Senior Living.[5]

History

Max Group traces its origin to the company inherited by Analjit Singh in 1985, following the death of his father Bhai Mohan Singh, founder of pharmaceutical company Ranbaxy Laboratories. Then named Max India (same as that of the current publicly-listed Max Group company), it started life as a manufacturer of an active drug compound for penicillin.[6] In 1993, the group ventured into telecommunications by forming a joint venture with Hutchison Asia Telecom Group, called Max Telecom. Max Telecom was later sold to Vodafone and became Vodafone India.[7] The group shifted its focus from being a B2B to B2C company in 2000, by foraying into the fields of healthcare and life insurance.[8] Max Life Insurance was founded in 2000, followed by Max Healthcare in 2001, and Max Bupa in 2008.

Structure

Three publicly listed holding companies fall under Max Group: Max Financial Services, Max Ventures and Industries and Max India. The three holding companies have their own separate subsidiaries. The structure is as follows:

Max India

Max Financial Services

Max Ventures and Industries

  • Max Estates (commercial and residential projects)
  • Max Speciality Films (packaging films)
  • Max I. Limited (venture capital)

Governance and financials

The group is led by Analjit Singh and a board of directors. Each holding company under the group operates independently and has its own board of directors and shareholders.[9][10] In 2019, the group posted revenues of $3.2 billion. Some of the companies that hold investments in the group include The Vanguard Group, International Finance Corporation, Kohlberg Kravis Roberts, and New York Life Insurance Company.[11]

References

  1. ^ a b Aug 2019, ET Now | 07; Ist, 09:51 Pm. "Max Group has absolutely no plan to exit life insurance business, says Analjit Singh" – via economictimes.indiatimes.com.{{cite web}}: CS1 maint: multiple names: authors list (link) CS1 maint: numeric names: authors list (link)
  2. ^ "Max India Limited Reports Strong Q3FY2020 Financial Results; Max Healthcare's EBITDA of Rs. 121 Cr., Grows 92%".
  3. ^ https://www.maxgroup.in/about-us/
  4. ^ Thacker, Teena (30 April 2019). "Analjit Singh offers exit to Max shareholders, plans new businesses". Livemint.
  5. ^ Reporters, B. S. (16 January 2016). "Max India wraps up three-way demerger" – via Business Standard.
  6. ^ https://journals.sagepub.com/doi/full/10.1177/2516604219889241
  7. ^ Shauvik Ghosh (10 February 2012). "Analjit Singh to be chairman of Vodafone India". Livemint.com. Retrieved 1 May 2020.
  8. ^ "Max India: KKR set to back Max India promoter Analjit Singh with Rs 2,000-crore liquidity infusion - The Economic Times". Economictimes.indiatimes.com. 22 January 2018. Retrieved 1 May 2020.
  9. ^ "Max India to venture into new verticals after divesting insurance, healthcare business". 29 April 2019.
  10. ^ "Max India shares to trade ex-demerger from 27th Jan". @businessline.
  11. ^ "Max Financial Services H1FY20 Consolidated Revenue Grows 10% to Rs. 8,635 Cr.; Max Life Reports Strong Growth in Sales, Value of New Business and Margin". Outlookindia.com. Retrieved 1 May 2020.
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