Home / Business and Economy / Manorama Eyes ₹500 Cr Capital Boost via Securities
Manorama Eyes ₹500 Cr Capital Boost via Securities
12 Mar
Summary
- Board approved raising up to ₹500 crore through securities issuance.
- Funds may be raised via qualified institutional placements.
- Shareholder approval sought via postal ballot notice.
Manorama Industries Ltd announced on March 12, 2026, that its board has approved a substantial fundraising plan. The company intends to raise up to ₹500 crore by issuing various securities. These may include equity shares, non-convertible debt instruments with warrants, or convertible securities, offered in one or multiple tranches.
The fundraising strategy will likely involve qualified institutional placements (QIP) or other permissible methods, pending regulatory and shareholder consent. The board has also initiated a postal ballot process to obtain the necessary shareholder approvals for this capital infusion.
Eligible shareholders will receive a postal ballot notice via email by March 13, 2026. This notice will detail the proposed fundraising and seek their vote. To facilitate the process, the company has appointed scrutinisers for the postal ballot and a service provider for e-voting facilities.
