Corporate Action22 Sept 2026, 06:10 pm
Manba Finance Board approves ₹100 Cr Preferential Issue & Capital Hike
AI Summary
Manba Finance Ltd's Board of Directors approved an increase in the authorized share capital from ₹55 crore to ₹65 crore. Concurrently, the board sanctioned a preferential issue of fully convertible warrants and equity shares, aggregating up to ₹99.99 crore. This includes issuing 5,000,013 equity shares at ₹135 each to non-promoters, totaling ₹67.50 crore, and 2,407,223 fully convertible warrants at ₹135 each to promoters, totaling ₹32.49 crore. Warrants require a 25% upfront payment. Both resolutions are subject to shareholder approval at an Extraordinary General Meeting, with proceeds intended for funding requirements.
Key Highlights
- Board approved increasing authorized capital to ₹65 crore.
- Preferential issue of up to ₹99.99 crore was sanctioned.
- Includes equity shares for non-promoters at ₹135/share.
- Warrants for promoters at ₹135/warrant, 25% upfront.
- Actions are subject to shareholder approval at EGM.
Price Impact
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