Maan Aluminium Limited has informed the Exchange regarding Board meeting held on November 04, 2025.
MAANALU · price
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Maan Aluminium Limited's board approved issuing up to 59,00,000 equity shares at Rs. 141 per share (face value Rs. 5, premium of Rs. 136) via a preferential allotment to promoter and non-promoter allottees, raising approximately Rs. 83.19 crore at the floor price. Promoters Ravinder Nath Jain, Priti Jain, Alka Jain, and Dipti Jain will collectively receive about 16.46 lakh shares, while the remaining ~42.54 lakh shares are allocated to 36 non-promoter allottees including investment funds like Dugar Growth Fund, SVAN Velocity Fund, and Marigold Partners. The board also approved amendments to the Articles of Association to enable such preferential issues. An Extraordinary General Meeting is scheduled for November 29, 2025, with e-voting from November 26 to 28, 2025 (cut-off date November 22) to seek shareholder approval.
This preferential issue will dilute existing shareholders' stakes, but promoter participation of ~28% of the issue signals insider confidence. Minority shareholders should note that SEBI rules require a special majority approval from non-promoter voters, so the EGM outcome matters. The issue price of Rs. 141 per share will be benchmarked against the SEBI-determined price or higher, providing some floor protection for existing shareholders.