Max Financial Services Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

NSEI:MFSL Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Role	Shares	Max Price
16 May 24	Buy₹189,797,022	Max Financial Services Limited Employees Provident Fund Trust	Company		190,000	₹998.93
14 May 24	Buy₹217,063,515	Max Financial Services Limited Employees Provident Fund Trust	Company		224,343	₹967.55

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

What is the ownership structure of MFSL?
Owner Type	Number of Shares	Ownership Percentage
Individual Insiders	420,333	0.122%
Employee Share Scheme	1,873,874	0.545%
State or Government	7,991,344	2.33%
Private Companies	14,988,173	4.36%
General Public	43,286,768	12.6%
Public Companies	75,458,088	22%
Institutions	199,606,641	58.1%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 78.38% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
22%	MS&AD Insurance Group Holdings, Inc.	75,458,088	₹83.7b	0%	no data
8.46%	HDFC Asset Management Company Limited	29,058,011	₹32.2b	2.83%	0.69%
5.62%	Nippon Life India Asset Management Limited	19,299,690	₹21.4b	-6.57%	0.55%
4.72%	ICICI Prudential Asset Management Company Limited	16,235,321	₹18.0b	82.1%	0.32%
3.23%	Max Ventures Investment Holdings Private Limited	11,095,923	₹12.3b	-49.8%	no data
2.89%	Aditya Birla Sun Life AMC Limited	9,932,647	₹11.0b	15.7%	0.61%
2.7%	The Vanguard Group, Inc.	9,281,499	₹10.3b	0.31%	no data
2.53%	Kotak Mahindra Asset Management Company Limited	8,683,394	₹9.6b	-20.1%	0.33%
2.44%	Hdfc Standard Life Insurance Company Limited, Asset Management Arm	8,401,073	₹9.3b	0.7%	1.26%
2.4%	DSP BlackRock Investment Managers Pvt. Ltd.	8,254,882	₹9.2b	11.8%	0.74%
2.39%	WFM Asia (BVI) Limited	8,199,006	₹9.1b	0%	5.46%
2.08%	Singapore	7,137,773	₹7.9b	0%	no data
1.74%	Capital Research and Management Company	5,971,000	₹6.6b	0%	no data
1.45%	Kotak Mahindra Asset Management (Singapore) Pte. Ltd.	4,972,239	₹5.5b	-21.3%	1.35%
1.34%	Tata AIA Life Insurance Company Ltd., Asset Management Arm	4,613,365	₹5.1b	6.44%	2.4%
1.32%	Baron Capital Group, Inc.	4,529,597	₹5.0b	0%	0.14%
1.31%	PGIM India Asset Management Private Limited	4,500,000	₹5.0b	0%	1.74%
1.31%	Kuwait Investment Authority	4,499,997	₹5.0b	2.02%	0.2%
1.3%	BlackRock, Inc.	4,467,027	₹5.0b	1.92%	no data
1.27%	Mirae Asset Global Investments Co., Ltd.	4,361,483	₹4.8b	-27.8%	0.05%
1.25%	Motilal Oswal Asset Management Company Limited	4,293,633	₹4.8b	0%	0.52%
1.25%	Franklin Resources, Inc.	4,284,682	₹4.8b	-20.7%	0.02%
1.21%	Norges Bank Investment Management	4,172,082	₹4.6b	0%	no data
1.13%	New York Life Insurance Company	3,892,250	₹4.3b	0%	no data
1.09%	Canara Robeco Asset Management Company Limited	3,735,176	₹4.1b	0%	0.42%

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/21 20:48
End of Day Share Price	2024/12/20 00:00
Earnings	2024/09/30
Annual Earnings	2024/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Max Financial Services Limited is covered by 39 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Supratim Datta	Ambit Capital
null null	Antique Stockbroking Ltd.
null null	Asian Markets Securities Private Limited