Sensex Today Live: Man Industries (India) to allot shares worth ₹169.9 crores to Ashish Kacholia and others on preferential basis
Man Industries (India) has announced that it will allot 4.6 million shares, raising nearly ₹170 crores, to select non-promoter entities, including renowned investor Ashish Kacholia. The company made this disclosure in an exchange filing, stating that the Board of Directors approved the allotment of 46,32,133 fully paid-up equity shares on a preferential basis to non-promoters.
The preferential issue of equity shares, priced at Rs. 367 per share, including a premium of Rs. 362 per share, will amount to a total cash consideration of Rs. 169,99,92,811. This allotment is in accordance with SEBI regulations and the Companies Act, 2013.
This move by Man Industries (India) reflects a strategic decision to raise capital and bring in key investors like Ashish Kacholia. The company’s decision to issue shares on a preferential basis indicates confidence in its growth prospects and a positive outlook for the future.
Investors and market analysts will be closely watching the impact of this share allotment on the company’s stock performance and overall market dynamics. The participation of prominent investors like Ashish Kacholia adds further interest to this development, highlighting the potential opportunities in the Indian stock market.
