Manba Finance Board Approves ₹100 Cr Preferential Issue, Reappoints Key Management
Manba Finance's Board approved a ₹100 crore preferential issue via equity shares and warrants. Authorized capital increased from ₹55 crore to ₹65 crore. Key management re-appointments include Manish Kiritkumar Shah (MD) and Ms. Neelam Tater (Independent Director). EGM scheduled for October 19, 2026.
The substantial preferential issue of nearly ₹100 crore to fund lending activities and the re-appointment of key management personnel will have a significant impact on the company's financial structure and operational leadership.
The announcement details a significant preferential issue to fund business activities and re-appointments of key management personnel, indicating growth and stability.
Manba Finance Limited announced the outcome of its Board of Directors meeting held on September 22, 2026. The board approved an increase in the company's authorized share capital from ₹55 crore to ₹65 crore, subject to shareholder approval at an upcoming Extraordinary General Meeting (EGM).
Furthermore, the company approved a preferential issue of equity shares and fully convertible warrants aggregating up to ₹99.99 crore. This includes the issuance of up to 5,000,013 equity shares at ₹135 per share, totaling ₹67.50 crore, to non-promoter/public category investors. Additionally, up to 2,407,223 warrants will be issued at ₹135 per warrant, aggregating up to ₹32.50 crore, to the promoter/promoter group category. The proceeds from this preferential issue will be utilized for the company's lending and financing activities.
The board also approved the re-appointment of Ms. Neelam Tater as an Independent Director for a second term of 5 years from October 25, 2026, to October 24, 2031. The re-appointments of Mr. Manish Kiritkumar Shah as Managing Director for three years from April 1, 2027, and Mr. Monil Manish Shah and Ms. Nikita Manish Shah as Whole-Time Directors for three years from January 15, 2027, were also approved, along with revisions in their remuneration. Mr. Jay Mota was re-appointed as a Whole-Time Director for three years from January 15, 2027, with revised remuneration.
The Extraordinary General Meeting (EGM) is scheduled for October 19, 2026, with October 12, 2026, as the cut-off date for remote e-voting. The company also approved 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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See the model portfoliosA plain-language summary of a public exchange filing by Manba Finance Limited. Read the original for the full detail.