BSEMahan Industries LtdHighNeutral
Announced Thu, 16 Jul · 16:30 IST
Preferential issue of shares and warrants; change of control and open offer
Fund Raising View source PDF
Price reaction · full curve
Awaiting price reaction for this filing.
AI summary
Board approved preferential issue of 32 lakh equity shares at Rs 12 each (total Rs 3.84 crore) to two proposed promoters, plus up to 2.16 crore convertible warrants at Rs 12 each (up to Rs 25.99 crore total). The preferential allotment triggers an open offer under SEBI takeover rules and will result in a change of control, with new promoters taking over. EGM scheduled for August 15, 2026 to seek shareholder approval.
Likely market impact
Change of control and mandatory open offer coming; significant potential dilution for existing shareholders pending EGM approval on Aug 15.