Mahan Industries Limited published newspaper advertisements on August 5, 2026, confirming the issuance of a corrigendum to its Extra-Ordinary General Meeting (EGM) notice. The update follows clarifications sought by BSE Limited regarding the company’s proposed preferential issue of equity shares and fully convertible warrants. Shareholders are scheduled to vote on the capital raise at the EGM on August 15, 2026, ensuring regulatory compliance before the transaction proceeds.

The corrigendum was issued in response to a query from BSE Limited dated July 29, 2026, which sought additional disclosures under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mahan Industries had previously submitted an application for in-principle approval under Regulation 28(1) of the same regulations. The company stated that the corrigendum forms an integral part of the original EGM notice dated July 16, 2026, and all other terms remain unchanged.

The advertisements were placed in both English and Gujarati editions of Financial Express to ensure wide dissemination among stakeholders. The company confirmed that copies of these advertisements are available on its website, as well as on the BSE Limited website and the Registrar and Share Transfer Agent’s portal. This step completes the procedural requirement for notifying members about the revised disclosures prior to the meeting.

The preferential issue involves allotting 32,00,000 equity shares at ₹12 per share and 2,16,55,216 convertible warrants at ₹12 per warrant. The equity component represents 26% of the emerging voting share capital, triggering an open offer obligation under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Promoters Shah Nishil Sanjaykumar and Niranjankumar Navratanmal Jain are primary allottees, with their post-issue holding projected to rise significantly upon warrant conversion.

What This Means for Investors

The publication of the corrigendum ensures that shareholders have access to all necessary information before casting their votes. The additional disclosures address regulatory concerns, reducing the risk of procedural delays in the capital raise. For investors, this confirms that the company is adhering to strict compliance standards, which is critical for maintaining market confidence and ensuring the smooth execution of the preferential issue.

Mahan Industries Limited has launched 'Credit Mines', a new brand dedicated to digital financial services, marking its strategic expansion into the digital lending space. The platform enables customers across India to access personal loans and other credit products instantly through a fully digital, paperless, and presence-less process. This launch aims to diversify the company's revenue streams and expand its customer base by offering seamless credit access from home, utilizing advanced data analytics and India's public digital infrastructure.

The disclosure was made to BSE Limited on July 31, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Para B of Part A of Schedule III. The filing also references SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company confirmed that all lending activities under 'Credit Mines' will comply with applicable laws, including the Reserve Bank of India's Guidelines on Digital Lending.

Platform Features and Process

'Credit Mines' operates as an end-to-end digital lending solution that leverages digital KYC, Video KYC, the account aggregator framework, and e-signing capabilities. The platform uses data analytics-based credit assessment models to evaluate eligibility in real time. Customers can complete the entire borrowing journey without visiting a branch or handling physical documentation.

The application process involves five key steps:

Currently, applications are accepted via the platform’s website, with a dedicated mobile application expected to be launched shortly.

Strategic Impact

Shah Nishil Sanjaykumar, Executive Director of Mahan Industries Limited, stated that the launch represents a significant milestone in building a technology-first financial services business. He emphasized that the platform provides a seamless borrowing experience designed to contribute meaningfully to the company’s next phase of growth. While the financial impact cannot be ascertained at this stage, the initiative is positioned to strengthen long-term growth prospects by tapping into India's rapidly growing digital lending ecosystem.

What the Numbers Show

The launch signals a pivot toward high-growth fintech segments for Mahan Industries Limited. By integrating the account aggregator framework and video KYC, the company aims to reduce operational friction and acquisition costs associated with traditional lending. The absence of disclosed financial metrics for this new venture suggests it is in the early adoption phase, with success dependent on user acquisition rates and credit underwriting performance in the coming quarters.