Man Industries (India) Limited's board of directors has approved a significant corporate guarantee to support its subsidiary's expansion plans in the Middle East. The decision was announced following a board meeting held on April 22, 2026, demonstrating the company's commitment to supporting its international operations.

Board Meeting Outcome

The board meeting, which commenced at 09:30 P.M. and concluded at 10:02 P.M. on April 22, 2026, resulted in the approval of a corporate guarantee worth USD 70 million. This guarantee will be provided in favor of lenders for Man International Steel Industries Company (MISIC), which is a wholly owned subsidiary of Man Industries (India) Limited.

Guarantee Details and Purpose

The corporate guarantee has been structured to facilitate MISIC's business expansion in Saudi Arabia. The subsidiary requested this financial backing from its parent company to support its growth initiatives in the region.

Regulatory Compliance and Disclosure

The approval was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided comprehensive details as required under the amended regulations and SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Financial Impact Assessment

According to the company's disclosure, the corporate guarantee will be treated as a contingent liability for Man Industries (India) Limited. The board has assessed that at this point, there is no immediate impact of this corporate guarantee on the listed entity. Additionally, the company confirmed that promoter groups or group companies have no interest in this transaction.

Strategic Implications

This corporate guarantee represents Man Industries' strategic support for its international subsidiary's expansion plans in Saudi Arabia. The move demonstrates the parent company's confidence in MISIC's business prospects and its commitment to facilitating growth in key international markets. The guarantee structure ensures that MISIC has access to necessary funding from lenders while maintaining the backing of its parent company.

Man Industries (India) Limited has filed its quarterly compliance certificate with stock exchanges for the quarter ended March 31, 2026. The submission fulfills requirements under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018.

Regulatory Compliance Filing

The company submitted the certificate to both BSE Limited and National Stock Exchange of India Limited on April 13, 2026. Company Secretary Rahul Rawat signed the filing letter, ensuring compliance with regulatory timelines for quarterly submissions.

Certificate Details

MUFG Intime India Private Limited, formerly known as Link Intime India Private Limited, serves as the company's Registrar and Share Transfer Agent. The registrar issued the confirmation certificate on April 3, 2026, validating the company's dematerialisation processes during Q4FY26.

Compliance Confirmation

The certificate confirms that securities received from depository participants for dematerialisation during the quarter were properly processed within prescribed timelines. MUFG Intime India verified that all security certificates received for dematerialisation were confirmed or rejected appropriately.

Key compliance aspects covered include:

• Proper acceptance and rejection of securities from depository participants
• Timely listing of securities on stock exchanges where earlier issued securities are listed
• Mutilation and cancellation of security certificates after due verification
• Substitution of depository names in the register of members as registered owners

Regulatory Framework

Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 mandates quarterly certification from registrar and transfer agents. This ensures transparency in dematerialisation processes and maintains investor confidence in electronic securities handling.

The filing demonstrates Man Industries' commitment to regulatory compliance and proper governance of shareholder services through its appointed registrar.