Manaksia Coated Metals & Industries Limited — Important, 27-03-2025: Updates

The Warrant/Equity Shares Allotment Committee has approved the allotment of 52,00,000 equity shares at an issue price of Rs. 65/- each, raised through the conversion of warrants. This includes 44,00,000 shares issued to non-promoters for a total amount of Rs. 21.45 Crore and 8,00,000 shares to promoters, raising Rs. 3.90 Crore. The total equity capital has been increased to Rs. 79.47 Crore, now consisting of 79,469,050 equity shares.

The new shares rank equally with existing shares, and 15,500,000 warrants remain outstanding for conversion, giving holders the right to convert to equity shares at Rs. 48.75 per warrant within the stipulated timeframe. This capital infusion is expected to strengthen the company's financial position, providing resources for future growth and operational expansion. Investors should monitor how this development impacts the company’s overall strategy and market performance.