Manaksia Coated Metals & Industries Limited — Others, 04-12-2024: Shareholders meeting

Manaksia Coated Metals & Industries Limited has announced a board meeting to discuss the preferential issuance of 36,00,000 fully convertible warrants to both "Promoter/Promoter Group" and "Non-Promoter, Public Category." The issue price is set at ₹65 per warrant, aiming to raise approximately ₹23.40 crore from promoters and ₹111.15 crore from public entities. The proposed use of funds includes repayment of loans and working capital needs. This move may bolster financial flexibility and is expected to enhance investor confidence, given the strategic intent behind the capital raise and manageable issuance rate relative to existing shareholding.