MAN Industries Strengthens Balance Sheet with INR 255 Cr Preferential Equity Raise

MAN Industries (India) Ltd, a leading manufacturer of large-diameter carbon steel pipes, announced the successful completion of an INR 255 crore preferential allotment to select non-promoter institutional and strategic investors, further reinforcing strong institutional confidence in the company’s growth strategy and execution capabilities.

The allotment comprised 77,74,383 fully paid equity shares (face value INR 5 each), issued at INR 328 per share (inclusive of a premium of INR 323)—underscoring strong demand from marquee non-promoter investors, including ace investor Ashish Kacholia, Carnelian Asset Management, Ovata Capital (Hong Kong-based), Ashika Global Finance Pvt Ltd, Capri Global Holdings Pvt Ltd, and RBA & Finance Investment Co, among others.

This strategic capital infusion is poised to:

●Advance capital expenditure commitments associated with ongoing expansions in Jammu and Saudi Arabia.

●Strengthen the balance sheet and bolster working capital for enhanced operational resilience.

●Fuel the company’s domestic and global growth roadmap, backed by order-book momentum and execution capability.

Commenting on the development, Nikhil Mansukhani, Managing Director, MAN Industries, said, “This successful capital raise from reputed investors is a strong endorsement of our growth strategy and operational strength. It enhances our ability to capitalize on infrastructure opportunities globally, while reinforcing our commitment to sustainable scale-up and stakeholder value creation.”

For more information: www.mangroup.com