Deals16 Jul 2026, 04:40 pm
Mahan Industries Proposes ₹3.84 Cr Preferential Issue & ₹25.98 Cr Warrant Issue
AI Summary
Mahan Industries Ltd's Independent Directors Committee has recommended a preferential issue of up to 32,00,000 equity shares at ₹12 per share, aggregating ₹3.84 crore. Additionally, they approved the issuance of up to 2,16,55,216 convertible warrants at ₹12 per warrant, totaling ₹25.98 crore. This preferential issue and subsequent open offer are expected to trigger a change in control, with Acquirer 1 and Acquirer 2 becoming promoters. The issue price was determined based on a valuation report and includes a control premium, deemed fair and reasonable by the committee.
Key Highlights
- Independent Directors recommended preferential issue of 32 lakh shares at ₹12/share.
- Proposed issuance of 2.16 crore warrants at ₹12/warrant for ₹25.98 crore.
- Preferential issue and open offer will result in a change of control.
- New promoters will be classified as Acquirer 1 and Acquirer 2.
- Issue price includes a control premium, deemed fair by the committee.
Price Impact
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