Manappuram Finance has successfully secured a substantial ₹2,192 crore through a preferential issue. The Committee of Directors for Preferential Issue approved the allotment of equity shares and warrants to investors, following the receipt of necessary regulatory approvals.
The company has allotted 9,29,01,373 fully paid-up equity shares, each with a face value of ₹2, at a price of ₹236 per share. This totals ₹2,192 crore and has been allotted to BC Asia Investments XXV Limited, a Mauritius-based company.
Additionally, Manappuram Finance has issued an equal number of warrants, each priced at ₹236, to BC Asia Investments XIV Limited, also based in Mauritius. These warrants carry the right to subscribe to one equity share each and can be exercised over a period commencing four months from the date of allotment and extending up to 18 months.
Investor 2, BC Asia Investments XIV Limited, has already paid ₹548 crore, representing 25% of the total subscription amount for the warrants. The remaining balance will be paid upon exercise and conversion of these warrants, as per the terms agreed in the securities subscription agreement and the SEBI regulations.
The newly issued equity shares and those resulting from the conversion of warrants will be listed on both the BSE Limited and the National Stock Exchange of India Limited, adhering to the applicable legal requirements.
The Committee’s meeting, which approved these transactions, commenced at 11:00 A.M. and concluded at 11:14 A.M.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).