Max Group

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. 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. The group shifted its focus from being a B2B to B2C company in 2000, by foraying into the fields of healthcare and life insurance. Axis Max Life Insurance was founded in 2000.

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

Max India

• Antara Senior Living (senior living)

Max Financial Services

• Max Life Insurance

Max Estates

• Max Asset Services (real estate services)
• Max I. Limited (venture capital)

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. In 2019, the group posted revenues of $3.2 billion.