Manba Finance Announces EGM on Oct 19, 2026; Approves Preferential Issue & Director Re-appointments
Manba Finance will hold an EGM on October 19, 2026, to approve a capital increase from ₹55 crore to ₹65 crore. The company will also seek approval for a preferential issue of equity shares and warrants aggregating approximately ₹100 crore. Key directors, including MD Manish Kiritkumar Shah, Whole-Time Directors Monil Manish Shah, Nikita Manish Shah, and Jay Mota, will have their re-appointments and remuneration revised.
The significant preferential issue of equity and warrants, along with the increase in authorized share capital, will have a substantial impact on the company's capital structure and funding capabilities. Re-appointments of key management also indicate continuity in leadership.
The announcement includes several positive corporate actions such as a capital raise through preferential issue, which indicates growth and expansion plans, and re-appointments of key management personnel, suggesting stability.
Manba Finance Limited has announced an Extra-Ordinary General Meeting (EGM) of its shareholders, scheduled for Monday, October 19, 2026, at 01:00 PM IST, to be conducted through Video Conferencing / Other Audio-Visual Means.
The primary agenda items for the EGM include seeking shareholder consent for a significant increase in the company's authorized share capital. The authorized capital will be raised from ₹55 crore to ₹65 crore, comprising an increase in equity shares and a consequential alteration of the Memorandum of Association.
Furthermore, the company plans to seek approval for a preferential issue of equity shares and fully convertible warrants. This includes the issuance of up to 50,00,013 equity shares at an issue price of ₹135 per share, aggregating up to ₹67.50 crore to non-promoter/public category allottees. Additionally, up to 24,07,223 fully convertible warrants will be issued at ₹135 per warrant, aggregating up to ₹32.50 crore to promoter/promoter group category allottees. Each warrant carries a right to subscribe to one equity share within 18 months.
The meeting will also consider and approve the re-appointment of key managerial personnel. Ms. Neelam Tater will be re-appointed as an Independent Director for a second term of 5 years from October 25, 2026, to October 24, 2031. Mr. Manish Kiritkumar Shah will be re-appointed as Managing Director for three years from April 01, 2027, to March 31, 2030, with a minimum annual remuneration of ₹3 crore. Mr. Monil Manish Shah and Ms. Nikita Manish Shah will be re-appointed as Whole-Time Directors for three years from January 15, 2027, to January 14, 2030, with minimum annual remunerations of ₹1.50 crore and ₹90 lakh, respectively. Mr. Jay Mota will also be re-appointed as Whole-Time Director for the same period with revised remuneration terms.
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Manba Finance Limited filed this with the NSE as a statutory disclosure, categorised under egm. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Manba Finance Limited. Read the original for the full detail.