Mumbai, July 29, 2025: MAN Industries (India) Ltd (“MANINDS”), a leading manufacturer of large-diameter carbon steel pipes, today announced the successful completion of a ₹255 crore preferential allotment to select non-promoter institutional and strategic investors, further reinforcing strong institutional confidence in the company’s growth strategy and execution capabilities.
The allotment comprised 77,74,383 fully-paid equity shares (face value ₹5 each), issued at ₹328 per share (inclusive of a premium of ₹323)—underscoring strong demand from marquee non-promoter investors, including ace investor Ashish Kacholia, Carnelian asset management, Ovata Capital (Hong Kong based), Ashika Global Finance Private Limited, Capri Global Holdings Pvt. Ltd., and RBA & Finance Investment Co, among others.
This strategic capital infusion is poised to:
- Advance capital expenditure commitments associated with ongoing expansions in Jammu and Saudi Arabia.
- Strengthen the balance sheet and bolster working capital for enhanced operational resilience.
- Fuel the company’s domestic and global growth roadmap, backed by order-book momentum and execution capability.
Commenting on the development, Mr. Nikhil Mansukhani, Managing Director of MAN Industries, said: “This successful capital raise from reputed investors is a strong endorsement of our growth strategy and operational strength. It enhances our ability to capitalize on infrastructure opportunities globally, while reinforcing our commitment to sustainable scale-up and stakeholder value creation.”
