Corporate Governance29 Oct 2026, 02:57 pm
Man Infraconstruction: No Deviation in Preferential Issue Fund Use
AI Summary
Man Infraconstruction Limited has filed a Statement of Deviation or Variation for the quarter ended September 30, 2026. The company confirms that there has been no deviation or variation in the utilization of proceeds from its preferential issue of convertible warrants, amounting to ₹5,126.41 Crores (₹5,12,64,08,000), from the originally stated objects. This confirmation, reviewed and approved by the Audit Committee, pertains to funds raised on January 23, 2024. The utilization aligns with expanding EPC and real estate business, acquiring new projects, and deployment towards working capital for existing and new projects.
Key Highlights
- No deviation reported in the use of ₹5,126.41 Cr from preferential issue.
- Funds utilized for business expansion and working capital.
- Confirmation reviewed and approved by the Audit Committee.
- Statement covers the quarter ended September 30, 2026.
Price Impact
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