Manaksia Coated Metals Completes Equity Allotment from Promoters After Warrant Conversion
Manaksia Coated Metals & Industries Ltd has finalized an equity share allotment following the conversion of warrants, significantly increasing its issued and paid-up capital. The transaction was completed on June 30, 2026, involving preferential allocation to members of the Promoter Group.The company allotted a total of 8,00,000 equity shares to two promoters—Karan Agrawal and Tushar Agrawal—who are part of the 'Promoters/Promoter Group Category'. These shares were issued at an issue price of Rs. 65/- each, reflecting a premium of Rs. 64/- per share, consequent upon the conversion of 8,00,000 Warrants that were originally issued at Rs. 65/- each.
The allotment was completed after receiving the requisite balance amount aggregating to Rs. 3,90,00,000/- from the allottees. This payment corresponded to 75% of the issue price per warrant (Rs. 48.75/-).
Key details of the preferential allotment are provided below:
| Name of Allottee | No. of Warrants Allotted | No. of Equity Shares Allotted | Amount Received | Warrants Pending for Conversion |
|---|---|---|---|---|
| Karan Agrawal | 400,000 | 400,000 | 1,95,00,000 | 0 |
| Tushar Agrawal | 400,000 | 400,000 | 1,95,00,000 | 0 |
The allotment was conducted at an Issue Price of Rs. 65/- per warrant, with the payment of Rs. 16.25 per warrant representing the initial commitment from the allottees. The remaining 75% conversion payment of Rs. 48.75/- per warrant must be paid by warrants holders within 18 months from the date of allotment to complete the equity shares subscription.
Consequent to this transaction, Manaksia Coated Metals & Industries Ltd reported that its issued and paid-up capital has increased to Rs. 10,66,34,050/, comprising 10,66,34,050 equity shares of Re. 1/- each. The newly allotted equity shares rank pari passu with the existing equity shares of the Company.
The company also noted that a total of 20,00,000 warrants remain outstanding for conversion to equity shares, and warrant holders are entitled to convert these instruments by paying the remaining Rs. 48.75/- per warrant within 18 months from the date of warrants allotment.
MANAKCOAT Stock Price Movement
The stock of Manaksia Coated Metals & Industries Limited rallied today, finishing the session at ₹112.93 after climbing 5.09%. The equity traded within a range established by a low of ₹106.59 and a high of ₹114.25, with 372,433 shares traded in the market.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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