CLSA acted as Sole Bookrunner, Sole Global Co-ordinator and Sole Lead Manager in a INR 10 billion (USD 243 million) Qualified Institutions Placement (QIP)* issuance for Max India. This operation is the second-largest QIP issuance ever done in India and the largest sole-led deal closed in India in the past five years. Max India is a major player in the Indian insurance and healthcare sectors. * A QIP is a private placement of equity shares or securities convertible into equity shares by a listed company to Qualified Institutions Buyers.