Corporate Action28 May 2026, 07:41 pm
Man Industries: No deviation in preferential issue fund utilization
AI Summary
Man Industries (India) Ltd has filed a Statement of Deviation/Variation for the quarter ended March 31, 2026, confirming no deviation in the utilization of funds from two preferential issues. The first issue involved 1,219,512 Convertible Warrants to Promoters, raising ₹99,999,984 on August 2, 2025, with funds allocated to General Corporate Purpose. The second issue comprised 7,774,383 Equity Shares to Non-Promoters, raising ₹2,549,997,624 on July 28, 2025, with funds earmarked for Meeting Working Capital Requirements, Expansion of Existing Business, and General Corporate Purpose. The company explicitly stated that there was no deviation or variation in the utilization of funds for either issue.
Key Highlights
- Company confirms no deviation in fund utilization for preferential issues.
- ₹9.99 Cr raised from warrants to promoters for general corporate purpose.
- ₹254.99 Cr raised from equity shares to non-promoters.
- Equity funds allocated for working capital, business expansion, and general corporate purpose.
- Report covers the quarter ended March 31, 2026.
Price Impact
More from MANINDS