Manba Finance Board approves ₹99.99 Cr preferential issue, capital hike

Manba Finance Ltd's Board of Directors, at its meeting on September 22, 2026, approved the re-appointment of directors. Key approvals also included an increase in the authorized share capital from ₹55 crore to ₹65 crore, subject to an Extraordinary General Meeting (EGM) approval, which will also alter the company's Memorandum of Association. Additionally, the board sanctioned a preferential issue aggregating up to ₹99.99 crore. This comprises issuing 5,000,013 fully paid-up equity shares to non-promoters at ₹135 each, totaling ₹67.50 crore, and 2,407,223 fully convertible warrants to promoters at ₹135 each, totaling ₹32.49 crore. Each warrant allows subscription to one equity share within 18 months, with 25% upfront payment. The entire preferential issue is subject to shareholder and regulatory approvals, with proceeds earmarked for funding requirements.