Manba Finance Limited shareholders approved a preferential issue of fully convertible warrants and equity shares during an Extra-Ordinary General Meeting held on October 19, 2026. The meeting also sanctioned an increase in the company's authorized share capital to facilitate the upcoming fundraising exercise.

The resolutions were passed with requisite majority through remote e-voting and e-voting at the meeting, which was conducted via video conferencing in compliance with SEBI listing regulations. The preferential issue received 100% support from the votes polled, indicating strong promoter and public shareholder backing for the capital expansion plan.

Resolutions passed at the EGM

The following key business items were transacted and approved by the members:

• Increase in Authorized Share Capital: An ordinary resolution was passed to increase the authorized share capital and alter the capital clause of the Memorandum of Association.
• Preferential Issue: A special resolution was approved for the preferential issue of fully convertible warrants and equity shares.
• Director Re-appointments: Special resolutions were passed for the re-appointment of several directors with revised remuneration packages.

Voting results summary

The voting data reflects a high degree of consensus among shareholders on the proposed corporate actions. Promoters and promoter group voted unanimously in favor of all resolutions.

What the Numbers Show

A distinct pattern emerges in the voting behavior regarding director re-appointments versus capital actions. While all capital-related resolutions and the re-appointments of the Managing Director and two Whole-Time Directors received 100% approval, the re-appointments of Independent Director Neelam Tater and Whole-Time Director Nikita Manish Shah saw 16,102 votes against. This dissent originated entirely from the Public-Institutions category, which holds a small fraction of shares (436,406 out of 50,239,410 total outstanding). The fact that the same institutional block opposed these specific two appointments while supporting others suggests targeted concerns regarding their specific roles or remuneration revisions, despite the overall overwhelming majority in favor.

Manba Finance Limited disclosed its half-yearly statement of debt securities outstanding as on September 30, 2026. The filing lists twelve non-convertible debentures issued via private placement, aggregating to ₹450 crore in total issuance value.

The disclosure was submitted to the BSE under Regulation 17 of the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021. The company provided detailed particulars for each security, including issuance dates, maturity schedules, coupon rates, and payment frequencies.

Debt instrument structure

All listed instruments are classified as plain vanilla debt securities with no embedded options. The coupon rates range from a low of 10.60% to a high of 11.50%. Payment frequencies vary between monthly and quarterly intervals, reflecting the diverse tenor structures of the issued bonds.

What the Numbers Show

A divergence exists between the total amount issued and the amount outstanding for one specific instrument. For the security maturing on July 27, 2027 (ISIN INE939X07242), the amount issued is listed as ₹76 crore, while the amount outstanding is ₹57 crore. This indicates a partial repayment or redemption of ₹19 crore has occurred since issuance. All other instruments show full outstanding balances matching their issuance amounts, suggesting no early redemptions for those specific tranches.

The maturity profile extends through 2028, with near-term maturities concentrated in late 2026 and early 2027. The highest coupon rate of 11.50% applies to a short-term instrument maturing in February 2027, while longer-term instruments extending to 2028 carry lower coupons between 10.60% and 10.65%.