Man Industries (India) Limited has submitted the Exchange a copy Srutinizers report of Extraordinary General Meeting held on Jun 25, 2025
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Man Industries held an Extraordinary General Meeting (EGM) on June 25, 2025, via video conferencing, where all three resolutions were passed with overwhelming majority. Resolution 1 (Ordinary) approved an increase in the company's Authorized Share Capital with 99.9997% votes in favour (3.54 crore shares polled out of 6.47 crore outstanding). Resolution 2 (Special) approved the issue of Convertible Warrants on a preferential basis to the Promoter Group, passing with 99.9737% support, noting the promoter group was interested in this resolution. Resolution 3 (Special) approved the issue and allotment of Equity Shares on a preferential basis to Non-Promoters, passing with 99.9996% support. Out of 61,327 total shareholders, only 42 attended the meeting through video conferencing.
The approvals clear the way for the company to raise fresh capital — both from promoter group (through convertible warrants) and non-promoter investors (through equity shares) — which may lead to share dilution for existing shareholders. The increase in authorized share capital is a necessary precursor to these preferential allotments and signals the company's intent to strengthen its capital base.