Manorama Industries Limited has informed the Exchange regarding Notice of Postal Ballot
MANORAMA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Manorama Industries Limited has issued a Postal Ballot Notice to its shareholders seeking approval for a Special Resolution to raise funds up to INR 500 crore through a Qualified Institutions Placement (QIP) or any other permissible mode, in one or more tranches. The funds could be raised by issuing equity shares, non-convertible debentures with warrants, or other eligible securities to qualified institutional buyers and other permitted investors. The Board approved the proposal on March 12, 2026. The cut-off date for eligible shareholders is March 13, 2026, and e-voting will run from March 21, 2026 (9:00 AM) to April 19, 2026 (5:00 PM), with results to be declared on or before April 21, 2026. M/s. Mehta & Mehta has been appointed as the Scrutinizer, and MUFG Intime India as the e-voting agency.
If approved, this proposal could lead to dilution of existing shareholders' equity, as the company may issue new shares or convertible securities worth up to ₹500 crore. The fund raise is likely intended for growth, expansion, or debt reduction, but the stock may see short-term pressure depending on the pricing and use of proceeds. Shareholders should review the Explanatory Statement and vote before April 19, 2026.