Mahan Industries Plans ₹3.84 Cr Preferential Issue & ₹25.98 Cr Warrant Issue

Mahan Industries Ltd announced a board meeting held on July 16, 2026, where it approved a preferential issue of up to 32,00,000 equity shares at ₹12 per share, aggregating ₹3,84,00,000. This issue, along with a proposed issuance of 2,16,55,216 convertible warrants at ₹12 per warrant, aggregating ₹25,98,62,592, is subject to necessary approvals. The preferential issue triggers an open offer obligation under SEBI (SAST) Regulations, potentially leading to a change in control and classification of acquirers as promoters. An Extra Ordinary General Meeting (EGM) is scheduled for August 15, 2026, to seek shareholder approval for these fund-raising activities.