Manba Finance Appoints CARE Ratings as Monitoring Agency

Manba Finance Limited has appointed CARE Ratings Limited, a SEBI-registered credit rating agency, as the monitoring agency for the utilization of proceeds from its preferential issue. This issue involved 50,00,013 equity shares and 24,07,223 warrants, convertible into equity shares, at an issue price of ₹135 per security, totaling ₹99,99,76,860. The appointment is made in the interest of investors, even though the issue size is below the threshold requiring a monitoring agency under SEBI ICDR Regulations. CARE Ratings will oversee the utilization of funds as per regulatory requirements. Manba Finance will ensure compliance with SEBI LODR and ICDR Regulations and will also upload this information on its website.