Manba Finance Board Approves Capital Increase & ₹99.99 Crore Preferential Issue
Manba Finance's board approved a capital increase from ₹55 crore to ₹65 crore and a ₹99.99 crore preferential issue. The issue includes ₹67.50 crore in equity shares and ₹32.50 crore in warrants. Key management re-appointments include Ms. Neelam Tater (Independent Director), Mr. Manish Kiritkumar Shah (MD), Mr. Monil Manish Shah (WTD), Ms. Nikita Manish Shah (WTD), and Mr. Jay Mota (WTD). An EGM is scheduled for October 19, 2026.
The substantial preferential issue of nearly ₹100 crore and the increase in authorized capital are material events that can significantly impact the company's financial structure, growth capacity, and valuation.
The company is undertaking a significant capital raise through a preferential issue and increasing its authorized share capital, which indicates positive growth prospects and financial strengthening.
Manba Finance Limited announced on September 22, 2026, a significant outcome from its Board of Directors meeting. The board approved an increase in the company's authorized share capital from ₹55 crore to ₹65 crore. This involves altering the capital clause of the Memorandum of Association, subject to shareholder approval at an upcoming Extraordinary General Meeting (EGM).
Furthermore, the board approved a preferential issue of securities amounting to ₹99.99 crore (₹99,99,76,860). This issue comprises up to 5,000,013 equity shares at ₹135 per share, aggregating to ₹67.50 crore (₹67,50,01,755) for the Non-Promoter/Public category. Additionally, up to 2,407,223 fully convertible warrants will be issued at ₹135 per warrant, aggregating to ₹32.50 crore (₹32,49,75,105) for the Promoter/Promoter Group category. The proceeds from this preferential issue will be utilized for the company's lending and financing activities.
In personnel-related decisions, the board approved the re-appointment of Ms. Neelam Tater as an Independent Director for a second term of five years from October 25, 2026, to October 24, 2031. The re-appointment of Mr. Manish Kiritkumar Shah as Managing Director for three years from April 1, 2027, to March 31, 2030, along with a revision in remuneration, was also approved. Similarly, Mr. Monil Manish Shah and Ms. Nikita Manish Shah were re-appointed as Whole-Time Directors for three-year terms commencing January 15, 2027, to January 14, 2030, with revised remuneration. Mr. Jay Mota was also re-appointed as a Whole-Time Director for a similar three-year term from January 15, 2027, to January 14, 2030, with revised remuneration.
The company also announced that the Extraordinary General Meeting (EGM) will be held on Monday, October 19, 2026, to seek shareholder approval for these proposals. The cut-off date for remote e-voting eligibility for the EGM is Monday, October 12, 2026. M/s. Ronak Jhuthawat & Co. has been appointed as the scrutinizer for the EGM.
What to do with a filing like this
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.