Manas Polymers and Energies Limited Approves Rights Issue to Raise Up to INR 25 Crores
Manas Polymers and Energies Limited announced that its Board of Directors has approved several key matters related to a proposed Rights Issue, allowing the company to raise capital through the issuance of equity shares.The board meeting, held on Saturday, July 11, 2026, considered, recommended, and sanctioned the fundraising initiative. The company is planning to raise funds up to an amount aggregating INR 25,00,00,000 (Indian Rupees Twenty-Five Crores Only) by way of a Rights Issue targeting eligible equity shareholders.
As part of the approved decisions, Manas Polymers and Energies Limited also cleared the Draft Letter of Offer. This document is intended for submission to stock exchanges where the company's equity shares are listed, seeking in-principle approval for the proposed Rights Issue.
The board meeting also approved the constitution of a specialized Rights Issue Committee. This committee will be responsible for overseeing the Rights Issue and deciding essential terms and conditions, including the record date, determining the rights issue price, setting the rights entitlement ratio, and finalizing the timing and terms of payment.
Furthermore, the company approved the appointment of various intermediaries, agencies, bankers, and other related matters necessary to execute the Rights Issue.
The details regarding the proposed securities issuance are provided below:
| Particulars | Details |
|---|---|
| Type of securities proposed to be issued | Equity Shares |
| Type of issuance | Rights Issue |
| Total amount for which the securities is proposed to be issued (approximately) | Up to INR 25,00,00,000 |
The company's board meeting commenced at 11:00 A.M. and concluded at 11:30 A.M.
MPEL Stock Price Movement
On Friday, shares of Manas Polymers and Energies Limited finished a flat session, settling at ₹40.75 per share. The stock saw a total traded quantity of 20,800 during the day.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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