Manorama Industries Approves Plan To Raise Up To ₹500 Crores Through QIP & Other Securities

Raipur: Manorama Industries is preparing to tap capital markets for fresh funding. The company’s board cleared a plan to raise funds through multiple instruments as it looks to strengthen its financial resources for future expansion.

Board Clears Fund Raise

The board approved raising up to Rs 500 crores through the issuance of securities that may include equity shares, convertible securities, warrants or non-convertible debt instruments.

The fundraising may take place in one or more tranches and through different permitted routes, including qualified institutions placements. The company said the exact structure and mix of instruments will be decided later by the board or its committee in accordance with applicable regulations.

Multiple Funding Routes

Manorama Industries has kept its options open regarding how the capital will be raised.

The proposal allows the company to issue securities through qualified institutions placements or any other legally permissible method. This flexible structure gives the board room to determine the timing, instrument type and issuance structure based on market conditions and regulatory requirements.

Shareholder Approval Planned

Before proceeding, the company will seek approval from shareholders through a postal ballot process.

The board has already cleared the postal ballot notice to obtain enabling approval for the fundraising proposal. The notice will be sent electronically to shareholders whose names appear in the company’s register of members or depository records as of March 13, 2026, the designated cut-off date.

E Voting Arrangements Set

To manage the voting process, the company has appointed Mehta & Mehta, Company Secretaries, as scrutinizers for the postal ballot exercise.

MUFG Intime India Private Limited will provide the remote e-voting platform for shareholders participating in the postal ballot process, allowing members to cast votes digitally.

The board meeting that approved the fundraising proposal began at 02:30 p.m. and concluded at 03:42 p.m. on March 12, 2026, with the company expected to share additional details once the structure of the securities issuance is finalized.

Disclaimer: This article is based on a company regulatory filing and is intended for informational purposes only. It does not constitute investment advice, recommendation, or endorsement of any securities mentioned.