Manba Finance Board Approves Capital Increase and ₹100 Crore Preferential Issue
Manba Finance's Board approved increasing authorized share capital to ₹65 crore and a preferential issue of equity shares and warrants worth approximately ₹100 crore. Key management re-appointments include Manish Kiritkumar Shah as MD and Ms. Neelam Tater as Independent Director. The EGM is scheduled for October 19, 2026.
The substantial preferential issue of approximately ₹100 crore and the increase in authorized share capital are material financial events that will significantly impact the company's capital structure and future funding capabilities. Re-appointments of MD and directors with revised remuneration are also significant.
The company is undertaking a significant capital raise through a preferential issue and increasing its authorized share capital, which are generally positive developments for growth and funding. Re-appointments of key management personnel also indicate stability.
Manba Finance Limited's Board of Directors, in a meeting held on September 22, 2026, approved a significant increase in the company's authorized share capital from ₹55 crore to ₹65 crore. This move necessitates a consequential alteration to the capital clause of the company's Memorandum of Association, subject to shareholder approval at the upcoming Extraordinary General Meeting (EGM).
Furthermore, the Board greenlit a preferential issue of fully convertible warrants and equity shares aggregating up to ₹99.99 crore (approximately ₹100 crore). This includes the issuance of up to 5,000,013 equity shares at ₹135 per share to non-promoter/public categories, totaling ₹67.50 crore, and up to 2,407,223 warrants at ₹135 per warrant to promoter/promoter group categories, amounting to ₹32.50 crore. The proceeds from this preferential issue will be utilized for the company's lending and financing activities. The issue is subject to member approval and regulatory clearances.
In addition to these financial decisions, the Board approved the re-appointment of Ms. Neelam Tater as an Independent Director for a second term of 5 years from October 25, 2026. Mr. Manish Kiritkumar Shah was re-appointed as Managing Director for a 3-year term from April 1, 2027, with revised remuneration. Similarly, Mr. Monil Manish Shah and Ms. Nikita Manish Shah were re-appointed as Whole-Time Directors for 3-year terms from January 15, 2027, with revised remuneration. Mr. Jay Mota was also re-appointed as a Whole-Time Director for a 3-year term from January 15, 2027, with revised remuneration.
The company also announced that the Extraordinary General Meeting (EGM) will be held on Monday, October 19, 2026, via video conferencing. The cut-off date for remote e-voting eligibility for this EGM is Monday, October 12, 2026. M/s. Ronak Jhuthawat & Co. has been appointed as the scrutinizer for the EGM.
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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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