Man Industries (India) Limited has informed the Stock Exchanges on 13th March, 2024 about the allotment of 46.32 lakh shares @ Rs 367 per share amounting to Rs. 170 crores approx. to marquee investor and financial institutions: Ashish Kacholia and group and 8 other renowned funds.
Ace investor Ashish Kacholia and group were allotted 27.24 lakh shares for a consideration of Rs. 100 crores approx. equating to a 4.2% stake in Man Industries.
The raised fund will be utilized for upcoming capex expansion programmes.
MAN Industries (India) is the flagship Company of Man Group, promoted by the Mansukhani Family in 1970. The Company is a part of the well-diversified MAN Group, growing under the dynamic leadership of Dr. R. C. Mansukhani. Starting as an Aluminium Extruder in 1988, MAN Industries has become one of the largest players in LSAW Pipes, Spirally Welded Pipes and Coating Systems.
