Manba Finance Approves ₹100 Crore Preferential Issue & Reappoints Key Directors
Manba Finance's Board approved increasing authorized capital to ₹65 crore and a preferential issue of up to ₹100 crore via equity shares and warrants. Key reappointments include Ms. Neelam Tater (Independent Director, 5 yrs from Oct 2026), Mr. Manish Kiritkumar Shah (MD, 3 yrs from Apr 2027), Mr. Monil Manish Shah (Whole-Time Director, 3 yrs from Jan 2027), Ms. Nikita Manish Shah (Whole-Time Director, 3 yrs from Jan 2027), and Mr. Jay Mota (Whole-Time Director, 3 yrs from Jan 2027).
The preferential issue of nearly ₹100 crore has a substantial financial impact. Reappointments of MD and other directors for multi-year terms provide leadership continuity and strategic direction, impacting the company's future operations and investor confidence.
The company is undertaking a significant preferential issue to fund its operations and has reappointed key management personnel, indicating stability and a focus on growth.
Manba Finance Limited's Board of Directors met on September 22, 2026, approving several key corporate actions. The company's authorized share capital is set to increase from ₹55 crore to ₹65 crore, pending member approval at an upcoming Extraordinary General Meeting (EGM).
Furthermore, the Board has approved a preferential issue of equity shares and fully convertible warrants aggregating up to ₹99.99 crore. This includes the issuance of up to 50,00,013 equity shares at ₹135 per share to non-promoter/public category investors, totaling approximately ₹67.50 crore. Additionally, up to 24,07,223 warrants will be issued to the promoter/promoter group at ₹135 per warrant, aggregating up to approximately ₹32.50 crore. The proceeds from this issue will be utilized for the company's lending and financing activities.
In terms of leadership, Ms. Neelam Tater has been re-appointed as an Independent Director for a second five-year term from October 25, 2026, to October 24, 2031. Mr. Manish Kiritkumar Shah has been re-appointed as Managing Director for a three-year term from April 1, 2027, to March 31, 2030, with a revised remuneration. Mr. Monil Manish Shah and Ms. Nikita Manish Shah have been re-appointed as Whole-Time Directors for three-year terms from January 15, 2027, to January 14, 2030, also with revised remuneration. Mr. Jay Mota has also been re-appointed as a Whole-Time Director for a three-year term from January 15, 2027, to January 14, 2030, with a revised remuneration.
The EGM to seek member approval for these proposals is scheduled for October 19, 2026. The cut-off date for remote e-voting eligibility is October 12, 2026. The meeting also saw the reconstitution and constitution of various board committees.
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Manba Finance Limited filed this with the NSE as a statutory disclosure, categorised under equity fundraising. 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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