'Not participating in bidding': Max Healthcare Institute clarifies on Sahyadri Hospital acquisition

Max Healthcare Institute Ltd on Tuesday issued its clarification over certain news reports relating to bids for acquiring Sahyadri Hospital. "We deny the aforesaid news item and wish to clarify that the Company is not participating in the bidding process for acquisition of Sahyadri Hospital," the Mumbai-based healthcare firm stated.

"Accordingly, there is no material event/ information that requires disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Company will make appropriate disclosures in compliance with applicable laws, as and when required," it also said.

Prominent private equity (PE) firms and healthcare players are preparing to bid for the Sahyadri Hospitals as the company has extended its bidding deadline. Sahyadri was bought by Canadian fund Ontario Teachers' Pension Plan Board for Rs 2,500 crore in 2019. It is one of the biggest hospital chains operating in Maharashtra. 

The declaration came post-market hours today. Earlier in the day, Max Healthcare shares settled 2.04 per cent higher at Rs 1,154.75.

The stock saw heavy trading volume on BSE as around 1.03 lakh shares changed hands. The figure was higher than the two-week average volume of 38,000 shares. Turnover on the counter came at Rs 11.95 crore, commanding a market capitalisation (m-cap) of Rs 1,12,258.10 crore.

Technically, the scrip traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 59.69. A level below 30 is defined as oversold while a value above 70 is considered overbought.

It has a price-to-earnings (P/E) ratio of 146.73 against a price-to-book (P/B) value of 14.13. Earnings per share (EPS) stood at 7.87 with a return on equity (RoE) of 9.63. According to Trendlyne data, Max Healthcare has a one-year beta of 0.8, indicating low volatility.

As of March 2025, promoters held a 23.74 per cent stake in the company.