Manorama Industries Limited has completed the dispatch of its postal ballot notice on March 20, 2026, seeking shareholder approval for a significant fund-raising initiative through qualified institutions placement (QIP) or other permissible modes. The company aims to raise up to ₹500 crore to support its expansion plans and strengthen its financial position.

Compliance Filing and Notice Dispatch

The company has filed compliance documents under Regulation 30 and 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, confirming completion of postal ballot notice dispatch. The notice has been published in Business Standard (English) and Loksatta (Marathi) newspapers on March 21, 2026.

Board Approval and Timeline

The Board of Directors approved the postal ballot process on March 12, 2026, setting in motion a comprehensive shareholder consultation process. The company has established a detailed timeline for the postal ballot procedure, ensuring compliance with regulatory requirements.

Fund Raising Details

The special resolution seeks approval for raising funds through various mechanisms, with QIP being the primary mode. The company's current authorized capital stands at ₹30 crore, while the paid-up capital as of December 31, 2025, is ₹11.94 crore, divided into 5,97,08,530 equity shares of ₹2 face value each.

E-voting Process and Scrutinizer

The company has engaged MUFG Intime India Private Limited (formerly Link Intime India Private Limited) to facilitate the e-voting process. The Board has appointed M/s. Mehta & Mehta, Company Secretaries as scrutinizer for conducting the postal ballot process.

Utilization of Proceeds

The company has outlined specific purposes for the fund utilization, ensuring transparency in deployment. The proceeds will support multiple strategic initiatives aimed at strengthening the company's market position and operational capabilities.

Key utilization areas include:

• Capital expenditure for project expansion and new undertakings
• Working capital requirements to support business operations
• Repayment or prepayment of existing borrowings
• Funding organic and inorganic growth opportunities
• Research and development activities
• General corporate purposes (limited to 25% of total funds)

Regulatory Compliance

The fund raising initiative complies with various regulatory frameworks, including the Companies Act 2013, SEBI ICDR Regulations 2018, and SEBI Listing Regulations 2015. The company has ensured adherence to all applicable provisions governing qualified institutions placement.

For QIP-specific compliance, the resolution incorporates several key requirements including pricing not less than the floor price as per SEBI ICDR Regulations, discount limitation of maximum 5% on floor price, and minimum two allottees for issues up to ₹250 crore.

Shareholders can access the complete postal ballot notice on the company's website and participate in the e-voting process through the designated platform. The resolution requires approval as a special resolution, necessitating support from at least 75% of voting shareholders.

Manorama Industries Limited has successfully concluded its board meeting and approved a comprehensive fundraising plan for up to ₹500 crores. The board meeting, held on March 12, 2026, commenced at 02:30 p.m. (IST) and concluded at 03:42 p.m. (IST), resulting in formal approval of the fundraising proposal and related corporate actions.

Board Meeting Outcomes

The board meeting achieved its primary objectives of strengthening the company's financial position through the approved fundraising initiative and establishing the framework for shareholder approval.

Fundraising Structure and Implementation

The board approved fundraising through multiple financial instruments to provide flexibility in execution. The approved securities include equity shares, non-convertible debt instruments along with warrants, convertible securities, and other eligible securities or combinations thereof. The fundraising will be executed through qualified institutions placements or other permissible modes as allowed under the Companies Act, 2013 and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Postal Ballot and Shareholder Approval Process

The board approved the postal ballot notice under Section 110 of the Companies Act, 2013, to seek shareholder consent for the ₹500 crore fundraising initiative. The cut-off date for sending the postal ballot notice has been set as March 13, 2026, with notices being sent via email to registered members.

Corporate Governance and Compliance

The announcement was signed by Deepak Sharma, Company Secretary & Compliance Officer (Membership No: A48707), ensuring adherence to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company maintains its registered office in Mumbai, Maharashtra, and corporate office in Raipur, Chhattisgarh.

Manorama Industries Limited operates as a certified manufacturing company with multiple international certifications including ISO 9001, ISO 14001, ISO 45001, RSPO, Kosher, Halal, EcoVadis, and Sedex SMETA 4-Pillar certifications. The company holds recognition as a Government of India Star Export House and maintains MSME ZED GOLD certification.