MAN Industries (India) Ltd. has announced that its Board of Directors has approved a capital raise of up to Rs 3 billion through a preferential allotment of equity shares and convertible warrants. The move, subject to shareholder and regulatory approvals, aims to fund the company’s expansion projects and strengthen its balance sheet.

The proposed allotment includes the issuance of 1.22 million convertible warrants to promoter group entity Man Finance Private Limited at Rs 328 each (inclusive of a Rs 323 premium), aggregating to approximately Rs 400 million. Each warrant will be convertible into one equity share within 18 months of allotment.

The funds raised will be deployed to meet ongoing capital expenditure for the company’s manufacturing expansions in Jammu and Saudi Arabia, address working capital needs, and support long-term strategic initiatives.

An Extraordinary General Meeting (EGM) will be held virtually on 25 June 2025 to seek shareholder approval for the proposal.

Managing Director Nikhil Mansukhani commented, “The capital infusion is a strategic move that will strengthen our execution capabilities, bolster growth momentum, and enhance long-term shareholder value.”