MAN Industries Allots 2.5 Million Shares to Promoter Group

30 May 2025 CW Team

MAN Industries (India) Limited has allotted 2.5 million equity shares of face value Rs five each to Man Finance Private Limited (MFPL), a Promoter Group entity, upon conversion of warrants. The allotment was approved on May 28, 2025, following the Board's initial approval on December one, 2023.

The preferential allotment was made in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and the Companies Act, 2013. As a result, MFPL's shareholding has increased from 6.47 million shares (9.99 per cent) to 8.97 million shares (13.34 per cent).

This has also raised the overall Promoter and Promoter Group's shareholding in the company from 29.91 million shares (46.21 per cent) to 32.41 million shares (48.21 per cent). The newly issued shares will rank pari-passu with existing equity shares.

MAN Industries is a leading manufacturer of large diameter carbon steel line pipes, serving sectors such as oil and gas, water, fertilisers, and city gas distribution. It is currently expanding capacity, including a Rs six billion plant in Dammam, Saudi Arabia.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

Real Estate

07 Jul 2026

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

Infrastructure Urban

07 Jul 2026

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..