Man Industries (India) Limited — Others, 18-06-2025: Corrigendum

Man Industries (India) Limited has announced a board meeting regarding a preferential issue of up to 12.19 lakh convertible warrants to the promoter group, convertible into an equal number of equity shares at Rs. 328 each. The proceeds of around Rs. 40 Cr will be used primarily for working capital and general corporate purposes. Additionally, a separate preferential issue of equity shares aggregating about Rs. 260 Cr is planned for business expansion, including capex in Saudi Arabia and Jammu & Kashmir, working capital, and corporate expenses. Unutilized funds will be invested prudently until deployment. CRISIL Ratings Limited will monitor the use of the issue proceeds.