The Board of Directors of Man Industries (India) Limited, in its meeting held today, approved the appointment of Mr. Sandeep Kumar as the Chief Financial Officer (CFO) and Key Managerial Personnel of the company, effective immediately. The board also gave its nod to raise funds up to ₹300 crore through equity shares, convertible warrants, Qualified Institutional Placement (QIP), rights issue, or a combination thereof, subject to necessary approvals.
About Mr. Sandeep Kumar
Mr. Sandeep Kumar brings over 34 years of extensive experience in finance and leadership roles. A Chartered Accountant from the Institute of Chartered Accountants of India (ICAI), Mr. Kumar is also a law graduate from Meerut University and has completed the prestigious Leadership Development Program from Harvard University.
Mr. Kumar has held prominent positions, including Chief Financial Officer at Welspun Global Brands Limited and Director (Finance) at Raymond Group. His expertise spans financial management, strategic planning, and corporate governance, making him a valuable addition to Man Industries’ leadership team.
Fundraising Plan
The board also approved plans to raise ₹300 crore to fuel the company’s growth and expansion initiatives. The funds will be raised through various financial instruments, including equity shares, convertible warrants, QIP, or rights issue, in compliance with SEBI regulations, the Companies Act, and other applicable laws.
This strategic move aims to strengthen the company’s financial position and support future growth opportunities.
