Max Financial Services Ltd.

Shareholders holding 1% or more · latest filing Sep 2026

Ownership split · Sep 2026

Share of total equity by holder type, with change since Jun 2026.

Promoters 1.25% 0
FII / FPI 48.62% 0.56 pp
DII 43.7% 0.64 pp
Retail & others 6.44% 0.09 pp
Non-public / other 0% 0
Holder typeDec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters3.34%1.74%1.74%1.71%1.25%1.25%1.25%1.25%
FII / FPI47.5%44.75%44.72%44.78%45.14%47.88%48.06%48.62%
DII42.69%47.3%47.29%47.26%47.35%44.74%44.34%43.7%
Retail & others6.47%6.21%6.25%6.24%6.27%6.12%6.35%6.44%
Non-public / other0%0%0%0%0%0%0%0%

Major shareholders

78 current holders with 1% or more in the Sep 2026 filing. Click a name to see everything they hold.

Holder Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026 Change (QoQ)
MITSUI SUMITOMO INSURANCE COMPANY LIMITED Institution 21.86%7.55 21.86%7.55 21.86%7.55 21.86%7.55 21.86%7.55 21.86%7.55 21.86%7.55 21.86%7.55 0
HDFC MUTUAL FUND - HDFC NIFTY LARGE MIDC AP 250 INDEX FUND Institution – 9.02%3.11 9.05%3.12 9.08%3.13 – 9.12%3.15 9.27%3.20 9.24%3.19 0.03 pp
NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA NIFTY 500 EQ WEIGHT INDEX FUND Institution New – – – – – – – 4.97%1.71 –
DSP NIFTY 500 INDEX FUND Institution – – – – – 3.22%1.11 3.21%1.11 4.3%1.48 1.09 pp
SMALLCAP WORLD FUND, INC Institution 1.92%0.66 1.58%0.55 2.5%0.86 2.52%0.87 2.52%0.87 2.52%0.87 2.96%1.02 3%1.04 0.04 pp
KOTAK MAHINDRA TRUSTEE CO LTD A/C KOTAK NIFTY ALPHA LOW-VOLATILITY 30 INDEX FUND Institution – – – – – – 3.19%1.10 2.59%0.89 0.6 pp
SBI LIFE INSURANCE CO. LTD Institution 1.17%0.41 1.26%0.44 1.66%0.57 1.72%0.59 1.72%0.59 1.85%0.64 2.03%0.70 2.32%0.80 0.29 pp
INVESCO INDIA SMALL CAP FUND Institution New – – – – – – – 2.01%0.69 –
PRINCIPAL FUNDS, INC. - GLOBAL EMERGING MARKETS FUND Institution – – – – – 1.03%0.35 1.03%0.35 1.96%0.68 0.93 pp
HDFC LIFE INSURANCE COMPANY LTD -SHAREHOLDERS SOLVENCY MARGIN ACC Institution New – – – – – – – 1.85%0.64 –
ADITYA BIRLA SUN LIFE MUTUAL FUND - APEX EQUITY EX-TOP 100 LONG-SHORT FUND Institution New – – – – – – – 1.71%0.59 –
GOVERNMENT PENSION FUND GLOBAL Institution – – – – – 1.57%0.54 1.55%0.53 1.62%0.56 0.07 pp
ICICI PRUDENTIAL BSE INSURANCE ETF Institution New – – – – – – – 1.27%0.44 –
MAX VENTURES INVESTMENT HOLDINGS PRIVATE LIMITED Promoter 3.22%1.11 1.62%0.56 1.62%0.56 1.62%0.56 1.16%0.40 1.16%0.40 1.16%0.40 1.16%0.40 0
VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND Institution – – 1.1%0.38 1.1%0.38 1.12%0.39 1.12%0.39 1.12%0.39 1.13%0.39 0.01 pp
CANARA ROBECO MUTUAL FUND A/C CANARA ROB ECO MULTI ASSET ALLOCATION FUND Institution – – – – – – 1.03%0.36 1.12%0.39 0.09 pp
VANGUARD EMERGING MARKETS STOCK INDEX FUND, A SERIES OF VANGUARD INTERNATIONAL EQUITY INDEX FUNDS Institution – – – – – – 1.06%0.37 1.08%0.37 0.02 pp
KOTAK FUNDS - INDIA MIDCAP FUND Institution 1.33%0.46 1.07%0.37 1.07%0.37 1.1%0.38 1.1%0.38 1.06%0.37 1.04%0.36 1.05%0.36 0.01 pp
Investor Education and Protection Fund (IEPF) Public 0.25%0.09 0.25%0.09 0.25%0.08 0%0 0.25%0.08 0.24%0.08 0.24%0.08 0.24%0.08 0
ANALJIT SINGH Promoter 0.03%0.01 0.03%0.01 0.03%0.01 0.03%0.01 0.03%0.01 0.03%0.01 0.03%0.01 0.03%0.01 0
PIYA SINGH Promoter 0.03%0.01 0.03%0.01 0.03%0.01 0.03%0.01 0.03%0.01 0.03%0.01 0.03%0.01 0.03%0.01 0
TARA SINGH VACHANI Promoter 0.03%0.01 0.03%0.01 0.03%0.01 0.03%0.01 0.03%0.01 0.03%0.01 0.03%0.01 0.03%0.01 0
VEER SINGH Promoter 0%0 0%0 0%0 0%0 0%0 0%0 0%0 0%0 0
SAHIL VACHANI Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
VEDA VACHANI Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
AVYA VACHANI Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
ANALJIT SINGH (HUF) Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
ABK Consultants Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Anchor Management Services Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Capricorn Health Services Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Capricorn Hospitality Services Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Devavani Lifestyle Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Drugyel Estates Private Limited (Bhutan) Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Gaylord Impex Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Harmonious Hospitality Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Hometrail Properties Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
iCare Health Projects and Research Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Leo Retailing and Health Services Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
LGO PTE. Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Malsi Hotels Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Max India Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Max Estates Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Max Learning Ventures Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Max Ventures Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
New Delhi House Services Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Nurture Health Services Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
P V T Ventures Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Piveta Estates Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Rama Krishna Cold-Chem Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Riga Foods LLP Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Seven Heaven Buildmart Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Shakyasimha Foundation Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Shakyasimha Ventures Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Siva Finvest Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Siva Reality Ventures Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Southend Houses Private Limited (FKA SKA Diagnostic Private Limited) Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Solace Hotels and Hospitality Services Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Terra Planet Estate Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Topline Electonics Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
TR Asset Ventures Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Trophy Estates Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Trophy Resorts and Guest Houses Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
TVP Investments Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Twiggy Ventures Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Vana Enterprises Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Vana Foundation Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Vana Resorts & Hotels Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Vana Retreats Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Vana Therapiya Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Vana Ventures Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Vanaveda Lifestyle Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Vitasta Estates Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Wegmans Business Park Private Limited Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Sants Holding Limited, UAE Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Lakeview Enterprises Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
Vstar Ventures LLP Promoter – – 0%0 0%0 0%0 0%0 0%0 0%0 0
TSV Family Trust Promoter – – – – 0%0 0%0 0%0 0%0 0
SV Family Trust Promoter – – – – 0%0 0%0 0%0 0%0 0
HDFC LIFE INSURANCE COMPANYLIMITED -SHAREHOLDERS SOLVENCY MARGIN ACCOUNT Institution Exited / below 1% 2.32%0.80 2.31%0.80 2.23%0.77 – – 2.11%0.73 1.95%0.67 – –
ADITYA BIRLA SUN LIFE TRUSTEE PRIVATE LIMITED A/C - ADITYA BIRLA SUN LIFE QUANT FUND Institution Exited / below 1% – – 1.99%0.69 – – – 1.71%0.59 – –
INVESCO INDIA FINANCIAL SERVICES FUND Institution Exited / below 1% – – – – – – 1.43%0.49 – –
NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA NIFTY 500 EQUAL WEIGHT INDEX FUND Institution Exited / below 1% – – – – – – 5.01%1.73 – –
SBI NIFTY MIDCAP 150 ETF Institution Exited / below 1% – – – – – – 2.09%0.72 – –
ICICI PRUDENTIAL NIFTY FINANCIAL SERVICES EX-BANK ETF Institution Exited / below 1% 4.42%1.53 5.9%2.04 4.63%1.60 – – 1.24%0.43 – – –
POLAR CAPITAL FUNDS PLC - EMERGING MARKET STARS FUND Institution Exited / below 1% – 1.02%0.35 1.05%0.36 – 1.07%0.37 1.06%0.36 – – –
INVESCO INDIA ARBITRAGE FUND Institution Exited / below 1% – – – 1.09%0.37 – 1.55%0.54 – – –
UTI QUANT FUND Institution Exited / below 1% – – – 1.38%0.48 1.29%0.45 1.23%0.42 – – –
KOTAK MAHINDRA TRUSTEE CO LTD A/C KOTAK NIFTY 500 MOMENTUM 50 INDEX FUND Institution Exited / below 1% – – – – 3.29%1.14 3.37%1.16 – – –
ADITYA BIRLA SUN LIFE TRUSTEE PRIVATE LI MITED A/C - ADITYA BIRLA SUN LIFE BSE 500 MOMENTUM 50 INDEX FUND Institution Exited / below 1% – – – – – 1.8%0.62 – – –
NIPPON LIFE INDIA TRUSTEE LTD A/C NIPPON INDIA NIFTY 500 LOW VOLATILITY 50 INDEX FUND Institution Exited / below 1% – – – – – 5%1.73 – – –
TATA MULTI ASSET ALLOCATION FUND Institution Exited / below 1% – – – – – 1.08%0.37 – – –
SBI NIFTY MIDCAP 150 MOMENTUM 50 ETF Institution Exited / below 1% – – – – – 2.3%0.79 – – –
VANGUARD EMERGING MARKETS STOCK INDEX FU ND, A SERIES OF VANGUARD INTERNATIONAL EQUITY INDEX FUND Institution Exited / below 1% – – – – – 1.05%0.36 – – –
ICICI PRUDENTIAL QUALITY FUND Institution Exited / below 1% – – – 3.4%1.17 2.99%1.03 – – – –
SBI NIFTY200 MOMENTUM 30 INDEX FUND Institution Exited / below 1% – – – 2.36%0.82 2.46%0.85 – – – –
DSP NIFTY MIDCAP 150 INDEX FUND Institution Exited / below 1% – – – – 3.14%1.08 – – – –
ADITYA BIRLA SUN LIFE TRUSTEE PRIVATE LTD A/C - ADITYA BIRLA SUN LIFE BSE 500 MOMENTUM Institution Exited / below 1% – – – – 1.85%0.64 – – – –
HDFC MUTUAL FUND - HDFC NIFTY LARGE MID CAP 250 INDEX FUND Institution Exited / below 1% – – – – 9.13%3.15 – – – –
INVESCO INDIA ARBITRAGE FUN Institution Exited / below 1% – – – – 1.44%0.50 – – – –
NIPPON LIFE INDIA TRUSTEE LTD A/C NIPPON INDIA NIFTY 500 LOW VOL 50 INDEX Institution Exited / below 1% – – – – 5.62%1.94 – – – –
VANGUARD EMERGING MARKETS STOCK INDEX FUND, A SERIES OF VANGUARD INT EQ Institution Exited / below 1% – – – – 1.03%0.36 – – – –
HDFC LIFE INSURANCE COMPANY LTD -SHAREHOLDERS SOLVENCY MARGIN ACCO Institution Exited / below 1% – – – – 2.11%0.73 – – – –
DSP BUSINESS CYCLE FUND Institution Exited / below 1% – – 3.07%1.06 2.93%1.01 – – – – –
ADITYA BIRLA SUN LIFE TRUSTEE P LTD A/C - ADITYA BIRLA SUN LIFE BSE 500 MOM 50 Institution Exited / below 1% – – – 1.83%0.63 – – – – –
KOTAK MAHINDRA TRUSTEE CO LTD A/C KOTAK NIFTY ALPHA 50 INDEX FUND Institution Exited / below 1% – – – 2.93%1.01 – – – – –
NIPPON LIFE INDIA TRUSTEE LTD A/C NIFTY 500 LOW VOLATILITY 50 INDEX FUND Institution Exited / below 1% – – – 5.64%1.95 – – – – –
VANGUARD EMERGING MARKETS STOCK INDEX FUND, A SERIES OF VANGUARD INTERN Institution Exited / below 1% – – – 1.01%0.35 – – – – –
POLAR CAPITAL FUNDS PLC - EMERGING MARKE T STARS FUND Institution Exited / below 1% – – – 1.05%0.36 – – – – –
HDFC LIFE INSURANCE CO LTD -SHAREHOLDERS SOLVENCY MARGIN ACCOUNT Institution Exited / below 1% – – – 2.27%0.78 – – – – –
TATA AIA LIFE INSURANCE COMPANY LIMITED A/C MOMENTUM 50 INDEX FUND Institution Exited / below 1% – – – 1.01%0.35 – – – – –
NEELU ANALJIT SINGH Promoter Exited / below 1% 0.03%0.01 0.03%0.01 0.03%0.01 – – – – – –
KOTAK MAHINDRA TRUSTEE CO LTD A/C KOTAK NIFTY MIDCAP 150 INDEX FUND Institution Exited / below 1% – 2.76%0.95 2.36%0.81 – – – – – –
NIPPON LIFE INDIA TRUSTEE LTD.A/C NIPPON INDIA NIFTY 500 MOMENTUM 50 INDEX FUND Institution Exited / below 1% – – 5.57%1.92 – – – – – –
UTI NIFTY 200 MOMENTUM 30 INDEX FUND Institution Exited / below 1% – – 1.32%0.46 – – – – – –
SBI NIFTY 500 INDEX FUND Institution Exited / below 1% – – 2.7%0.93 – – – – – –
NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA NIFTY MIDCAP 150 INDEX FUND Institution Exited / below 1% 5.53%1.91 5.96%2.06 – – – – – – –
KUWAIT INVESTMENT AUTHORITY FUND F238 Institution Exited / below 1% 1.03%0.36 1.03%0.36 – – – – – – –
DSP MULTICAP FUND Institution Exited / below 1% – 4.02%1.39 – – – – – – –
ADITYA BIRLA SUN LIFE TRUSTEE P LTD A/C - ADITYA BIRLA SUN LIFE MULTI ASSET ALLOCATION FUND Institution Exited / below 1% – 2.75%0.95 – – – – – – –
MIRAE ASSET NIFTY LARGEMIDCAP 250 INDEX FUND Institution Exited / below 1% – 1.58%0.55 – – – – – – –
DSP ARBITRAGE FUND Institution Exited / below 1% 2.37%0.82 – – – – – – – –
ADITYA BIRLA SUN LIFE TRUSTEE PRIVATE LIMITED A/C - ADITYA BIRLA SUN LIFE MULTI ASSET ALLOCATION FUND Institution Exited / below 1% 2.92%1.01 – – – – – – – –
HDFC MUTUAL FUND - HDFC NIFTY LARGE MIDAP 250 INDEX FUND Institution Exited / below 1% 8.58%2.96 – – – – – – – –
KOTAK MAHINDRA TRUSTEE CO LTD A/C KOTAK NIFTY FINANCIAL SERVICES EX-BANK INDEX FUND Institution Exited / below 1% 2.35%0.81 – – – – – – – –
MIRAE ASSET NIFTY LARGE MIDCAP 250 INDEX FUND Institution Exited / below 1% 1.25%0.43 – – – – – – – –
WF ASIAN SMALLER COMPANIES FUND LIMITED Institution Exited / below 1% 2.36%0.81 – – – – – – – –
TATA AIA LIFE INSURANCE COMPANY LIMITED A/C RISING INDIA FUND (ULIF 073 17/01/24 RIF 110) Institution Exited / below 1% 1.2%0.41 – – – – – – – –

Companies only disclose holders with 1% or more, so “Exited / below 1%” can also mean the stake fell under 1%. “pp” = percentage points.

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