Announced Mon, 20 Jul · 12:31 IST
EGM notice for preferential share and warrant issue with change of control
Board & Shareholder Meetings View source PDF
Price
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Price reaction · full curve 14 horizons · vs prior close
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prior close
₹11.63
base price
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AI summary
Mahan Industries EGM on Aug 15, 2026 to approve two preferential issues. First: 32 lakh equity shares at Rs 12 each (Rs 3.84 crore total) to proposed promoters Shah Nishil Sanjaykumar and Niranjankumar Jain, giving 26 percent of emerging capital. Second: 2.16 crore convertible warrants at Rs 12 each (Rs 25.98 crore total) to 34 allottees. The equity allotment triggers takeover regulations and a change of control, with an open offer already announced on July 16, 2026.
Likely market impact
Significant dilution expected. Change of control via preferential issue; existing shareholders will get an open offer from new promoters.