Manaksia Coated Metals & Industries Limited — Others, 02-12-2024: Shareholders meeting

Manaksia Coated Metals & Industries Ltd. has announced a board meeting outcome, approving a fundraising initiative of up to ₹134.55 crores through the issuance of fully convertible warrants on a preferential basis. The plan includes issuing 36 lakh warrants to promoters and non-promoter public entities for ₹23.4 crores, and 1.71 crore warrants to the public for ₹111.15 crores at an issue price of ₹65 each. An Extraordinary General Meeting is scheduled for December 26, 2024, to seek shareholder approval. This move is aimed at bolstering financial growth and could enhance investor sentiment, reflecting a positive outlook on the company's expansion strategy.