Manba Finance has fixed October 12, 2026, as the record date for shareholders eligible to vote at its Extra-Ordinary General Meeting (EGM). The meeting is scheduled for October 19, 2026, to seek approval for a ₹99.99 crore preferential issue and an increase in authorised share capital.

The board of directors approved this proposal on September 22, 2026. The meeting will be held via Video Conferencing/Other Audio-Visual Means. Shareholders are requested to vote on the issuance of fully convertible warrants and equity shares, as well as the reappointment of key managerial personnel.

Details of the Preferential Issue

The proposal involves issuing up to 50,00,013 fully paid-up equity shares to Non-Promoter/Public category investors at ₹135 per share. This component aggregates to ₹67.50 crore. Additionally, the company proposes to issue up to 24,07,223 fully convertible warrants to the Promoter/Promoter Group category at the same price of ₹135, aggregating to ₹32.49 crore.

Each warrant carries a right to subscribe to one fully paid-up equity share within 18 months from the date of allotment. The total aggregate consideration for the proposed preferential issue shall not exceed ₹100 crore. The proceeds will be utilised to meet the funding requirements of the company's lending and financing activities.

Investor Participation and Promoter Commitment

The round has drawn participation from a diverse set of marquee investors and family offices. The promoter group, through Manba Investments and Securities Private Limited and Manish K. Shah, will subscribe to warrants worth ₹32.49 crore. This commitment reflects the promoters' confidence in Manba's long-term prospects.

Key public allottees include Zenila Ventures LLP (₹20 crore), Limona Ventures LLP (₹10 crore), and LYSA Trading LLP (₹10 crore). Other participants include Hem Securities Limited, Sanjay Popatlal Jain, and various family offices and high-net-worth individuals.

Use of Proceeds

The proceeds will strengthen the company's capital base and fund growth in its loan book across two-wheeler, three-wheeler, electric vehicle, used car, personal loan, small business loan, and Micro-LAP products. They will also support expansion into new geographies and general corporate purposes. A stronger balance sheet gives Manba room to grow its assets under management, diversify its borrowing base, and work towards improved credit ratings and lower funding costs.

Manish K. Shah, Managing Director, stated that the fundraise is a strong endorsement of Manba's business model and underwriting discipline. He noted that having investors of this calibre alongside the promoter group's own commitment provides the capital and confidence to grow faster and serve more customers underserved by formal credit.

Capital Structure Changes

To facilitate the issuance, the board approved an increase in the authorised share capital of the company from ₹55 crore to ₹65 crore. This increase involves the creation of 1 crore additional equity shares of face value ₹10 each. The consequential alteration of the capital clause in the Memorandum of Association is subject to approval by members at the ensuing Extraordinary General Meeting scheduled for October 19, 2026.

Leadership Continuity and Governance Updates

In addition to the capital raise, the board approved several reappointments to ensure leadership stability as the company undertakes new financing activities.

• Manish Kiritkumar Shah was reappointed as Managing Director for a further term of three years commencing April 1, 2027, with a revision in remuneration.
• Monil Manish Shah and Nikita Manish Shah were reappointed as Whole Time Directors for three years starting January 15, 2027.
• Jay Mota was reappointed as Whole Time Director and Chief Financial Officer for three years starting January 15, 2027.
• Neelam Tater was recommended for reappointment as a Non-Executive Independent Director for a second term of five years starting October 25, 2026.

The move signals the company's intent to strengthen its balance sheet while maintaining continuity in its executive management team. The preferential issue is subject to approval of the members by special resolution and receipt of in-principle approvals from BSE Limited and the National Stock Exchange of India Limited.

Manba Finance Limited has allotted 50,000 secured, rated, listed, redeemable, taxable, non-convertible debentures (NCDs) aggregating ₹50 crore on a private placement basis. The allotment was completed on September 24, 2026.

The Finance Committee of the company’s Board of Directors approved the issuance during its meeting held on September 24, 2026. The debentures have a face value of ₹10,000 each and are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited.

Instrument details

The NCDs offer a coupon rate of 10.65% with a tenure of 26 months. The principal and interest payments are scheduled to be made monthly throughout the life of the instrument. The security matures on November 24, 2028.

Security and repayment structure

The debentures are secured by an exclusive charge via a deed of hypothecation over a specific portfolio of receivables. The issuer is required to maintain a minimum security cover of 1.10 times the outstanding principal amounts along with accrued coupons at all times during the tenure. In the event of default in payment of interest or principal for more than three months, an additional interest rate of 2.00% over the coupon rate will apply until the default is cured.

The redemption of the NCDs will be executed in accordance with the Debenture Trust Deed executed between the issuer and the Debenture Trustee. No special rights, interests, or privileges are attached to the instrument beyond those standard for such securities.