MAN Industries Raises Rs2.55 Billion via Share Allotment

30 Jul 2025 CW Team

MAN Industries (India) Ltd (“MANINDS”), a leading manufacturer of large-diameter carbon steel pipes, has successfully completed a preferential allotment worth Rs2.55 billion to select non-promoter institutional and strategic investors. This move reflects strong institutional confidence in the company's growth trajectory and execution capabilities.

The allotment included 7,774,383 fully-paid equity shares with a face value of Rs5 each, issued at Rs328 per share (inclusive of a Rs323 premium). The offering attracted significant interest from prominent investors such as Ashish Kacholia, Carnelian Asset Management, Ovata Capital (Hong Kong), Ashika Global Finance Pvt. Ltd., Capri Global Holdings Pvt. Ltd., and RBA & Finance Investment Co, among others.

The capital raised will be utilised to:

Support capital expenditure tied to ongoing expansion projects in Jammu and Saudi Arabia
Strengthen the company’s balance sheet and improve working capital
Accelerate both domestic and international growth, backed by a strong order book

Commenting on the development, Mr. Nikhil Mansukhani, Managing Director, stated: “This capital raise from highly respected investors validates our strategy and strengthens our ability to seize infrastructure opportunities across global markets. It reflects our ongoing focus on sustainable growth and long-term stakeholder value creation.”

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