Man Infraconstruction Limited has informed the Exchange regarding allotment of Equity Shares on Conversion of Warrants issued on Preferential basis and Forfeiture of unsubscribed Warrants at its meeting held on July 22, 2025
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Awaiting price reaction for this filing.
Man Infraconstruction Limited has converted 1,58,81,580 warrants (issued in January 2024) into equal number of equity shares of Rs. 2 face value at Rs. 155 per share, receiving Rs. 184.62 crore as the balance 75% conversion amount. The company's paid-up equity capital has risen from Rs. 77.56 crore (38.78 crore shares) to Rs. 80.73 crore (40.37 crore shares). 50 warrant holders, including several funds like Forbes EMF, Coeus Global Opportunities Fund, and Minerva Ventures Fund, exercised their conversion option. Separately, 26,30,000 warrants that were not converted within the 18-month deadline have been forfeited along with the 25% upfront amount paid, as per SEBI ICDR Regulations.
This is a positive completion event — the company has successfully raised the balance Rs. 184.62 crore from warrant conversions, strengthening its equity base. Existing shareholders will see modest dilution (~4% increase in share count), and the forfeiture of unexercised warrants means no further dilution from that portion. The stock may react neutrally to slightly positively as the capital raise uncertainty is now resolved.