Mangal Credit and Fincorp Limited has informed the Exchange about issue of Securities subject to members approval.
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Mangal Credit and Fincorp Limited's Board approved raising funds through issuance of up to 25 lakh fully convertible unlisted equity warrants on preferential basis to promoters and non-promoters. Each warrant carries the right to subscribe to one equity share of ₹10 face value, at a price to be determined as per SEBI ICDR Regulations, subject to shareholder approval. The company reported FY26 net profit of ₹1,530.65 lakh, up 17% from ₹1,306.76 lakh in FY25, with total revenue growing 41% to ₹6,996.58 lakh. The Board also recommended a dividend of ₹0.75 per share (7.5%) for FY26. Additionally, the company issued 3,000 NCDs worth ₹30 crore at a discount of ₹2,000 per NCD, all secured at 120% cover.
The warrant issuance proposal could result in significant dilution of up to 11.8% of post-conversion equity capital. Shareholders will vote on this proposal at the AGM, and the final pricing will determine the exact dilution impact. The strong financial performance with 41% revenue growth signals healthy business expansion as an NBFC.