Manas Polymers and Energies Limited Board Approves Significant Increase in Authorized Share Capital
Manas Polymers and Energies Limited has approved a major expansion of its authorized share capital during a recent board meeting, with the increase subject to shareholder approval at an upcoming Extraordinary General Meeting (EGM). The move outlines the company's plans for future growth and capital structure.The Board of Directors considered and recommended increasing the Authorized Share Capital from INR 10,00,00,000 to INR 30,00,00,000. This increase involves a tripling of authorized shares while maintaining the current nominal value per share.
Details regarding the proposed capital structure are as follows:
| Metric | Existing Authorized Capital | Proposed Authorized Capital |
|---|---|---|
| Total Authorized Capital | INR 10,00,00,000 (Ten Crores) | INR 30,00,00,000 (Thirty Crores) |
| Number of Equity Shares | 1,00,00,000 (One Crore) | 3,00,00,000 (Three Crore) |
| Face Value per Share | INR 10 | INR 10 |
The company has scheduled an Extraordinary General Meeting (EGM) to seek shareholders' approval for these corporate matters. Furthermore, the Board approved the appointment of Ms. Shivangini Gohel, a Practising Company Secretary, to serve as the Scrutinizer for conducting the EGM, ensuring transparency in the process.
To facilitate the notice and execution of the EGM, the company designated Friday, June 19, 2026, as the cut-off date or record date. This date will be used to determine the list of shareholders who will receive the EGM notice and e-voting instructions related to the proposed matters.
MPEL Stock Price Movement
Manas Polymers and Energies Limited closed today with shares edging higher to ₹41.50, as the stock gained 0.61% in the post-market session. The company saw significant trading activity during the day, reporting a total volume of 59,200 shares.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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