Manaksia Coated Metals Raises ₹150 Cr Via QIP

Manaksia Coated Metals & Industries Limited (MCMIL) has successfully raised ₹150 crore through a Qualified Institutional Placement (QIP), which was fully subscribed. The funds will strengthen the company's balance sheet and provide financial flexibility for upcoming strategic projects, including capacity expansion and backward integration. MCMIL is progressing with its Phase 1 expansion, adding 1,50,000 MTPA capacity and developing a 7 MW captive solar power plant. Phase 2 will focus on backward integration and further capacity expansion to 3,60,000 MTPA. The company reported strong Q2 FY27 performance with total income of ₹321.55 crore, EBITDA of ₹36.91 crore, and PAT of ₹18.73 crore, and holds an order book of approximately ₹525 crore.