Coal news and updates

MAN Industries raises Rs 255 crore via preferential allotment

MAN Industries (India) Ltd has announced the successful completion of a Rs 255 crore preferential allotment to select non-promoter institutional and strategic investors, further reinforcing strong institutional confidence in the company’s growth strategy and execution capabilities, according to a company release.

“This successful capital raise from reputed investors is a strong endorsement of our growth strategy and operational strength. It enhances our ability to capitalize on infrastructure opportunities globally, while reinforcing our commitment to sustainable scale-up and stakeholder value creation,” said Nikhil Mansukhani, MD, MAN Industries.

The allotment comprised 77,74,383 fully-paid equity shares (face value Rs 5 each), issued at Rs 328 per share (inclusive of a premium of Rs 323)—underscoring strong demand from marquee non-promoter investors, including ace investor Ashish Kacholia, Carnelian asset management, Ovata Capital (Hong Kong based), Ashika Global Finance Private Limited, Capri Global Holdings Pvt. Ltd., and RBA & Finance Investment Co, among others.

This strategic capital infusion is associated with ongoing expansions in Jammu and Saudi Arabia and· fuel the company’s domestic and global growth roadmap, backed by order-book momentum and execution capability.