Appointment of Directors
Awaiting price reaction for this filing.
At a board meeting on November 5, 2025, Mahan Industries approved increasing its authorized share capital from ₹37.30 crore to ₹50 crore by creating 1.27 crore new equity shares of ₹10 each. The company also appointed two new Executive Directors: Nishil Shah, a CFA Level 1 with 3 years of corporate experience, and Niranjan Jain, a Chartered Accountant with over 20 years of experience in finance, accounting, taxation, and corporate governance. Both appointments were cleared by the RBI on July 25, 2025, indicating the company operates as an NBFC. A postal ballot will seek shareholder approval for all three proposals, with October 31, 2025 as the cut-off date.
The capital expansion gives the company headroom for future fundraising, while adding a senior CA to the board strengthens financial oversight. For shareholders, the postal ballot will determine whether these changes go through, and approval could set the stage for potential equity dilution later.