Man Infraconstruction Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Man Infraconstruction has confirmed to the stock exchanges that there is no deviation or variation in the use of proceeds from its preferential issue of 3,50,46,100 convertible warrants (face value Rs. 155 each), for the quarter ended June 30, 2025. The total amount raised from this issue stands at Rs. 294.73 crore, with funds originally earmarked for expanding EPC and real estate business, purchasing fixed assets, meeting working capital needs, and general corporate purposes. During the quarter, the company used Rs. 37.66 crore for EPC/real estate expansion, Rs. 91.66 crore for working capital, Rs. 9.01 crore for general corporate purposes, and nothing towards fixed assets. The statement was reviewed by the Audit Committee, with monitoring handled by ICRA Limited, and neither flagged any concerns.
This is a routine compliance filing confirming that the company's spending of the money raised from its warrant issue is in line with what was promised to shareholders. There is no negative governance signal here, and the ongoing deployment of funds into core EPC, real estate, and working capital needs suggests the company is actively using the capital for its stated business growth plans.