Manorama Industries Limited has informed the Exchange regarding Outcome of Board Meeting held on March 12, 2026.
MANORAMA · price
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Manorama Industries' board, at a meeting held on March 12, 2026, approved raising funds of up to ₹500 crores through a Qualified Institutions Placement (QIP) or any other permitted mode, in one or more tranches. The securities may include equity shares, non-convertible debt instruments with warrants, convertible securities, or any combination thereof, as decided by the Board. The company will seek shareholder approval through a postal ballot process, with the cut-off date set as March 13, 2026. M/s Mehta & Mehta has been appointed as the scrutinizer, and MUFG Intime India Private Limited will provide the e-voting platform. The fundraise remains subject to member approval and other regulatory/statutory clearances.
Existing shareholders may face potential equity dilution once the QIP is executed, depending on the final instrument mix and pricing. Short-term stock movement could be volatile as the market digests the size of the proposed raise, though the end use of funds is not yet disclosed.