Manaksia Limited — Others, 05-02-2025: Shareholders meeting

Manaksia Limited has announced a board meeting on January 31, 2025, to seek shareholder approval via postal ballot for several material related party transactions with its subsidiary, MINL Limited, involving Manaksia Steels Limited and Sumo Steels Limited for the financial years 2024-25 and 2025-26. The transactions involve the purchase of raw materials and spares, with maximum values set at ₹120 crore for 2024-25 and ₹200 crore for 2025-26 with Manaksia Steels, and ₹420 crore with Sumo Steels. Approval is sought to ensure compliance with related party transaction regulations. This move may be seen positively by investors due to the strategic alignment and potential for sustained supply at competitive rates, fostering operational efficiency.