Mena Mani Industries has approved plans to expand into the hotel and hospitality sector while increasing its authorized share capital. The Board of Directors also decided to alter the company’s Memorandum of Association to include these new business activities.

The board meeting was held on August 26, 2026, at the company’s registered office in Ahmedabad. The resolutions require final approval from members in a general meeting.

Capital Increase

The authorized share capital will rise from ₹16.5 crore to ₹31.5 crore. This involves creating additional equity shares of ₹1 each, bringing the total number of shares to 31.5 crore. These new shares will rank pari passu with existing equity shares.

New Business Objectives

The alteration to the main object clause allows the company to engage in a wide range of hospitality and wellness activities. Key permitted activities include:

• Operating hotels, resorts, motels, clubs, and tourism centres.
• Managing restaurants, cafes, bars, banquet halls, and catering establishments.
• Running wellness centres, spas, health and fitness facilities, and holiday homes.
• Providing care services through day-care, senior citizen, and rehabilitation centres.
• Entering tie-ups with hotel and hospitality chains in India and abroad.

Swetank Madhuvir Patel, Managing Director, signed the disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Ashoka Metcast Limited has disposed of 2,486,112 equity shares in Mena Mani Industries through an open market sale. The transactions were executed over a period spanning from June 20, 2025, to August 18, 2026. The disclosure was submitted to BSE Limited on August 19, 2026, under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The sale significantly reduced the direct equity stake held by Ashoka Metcast Limited. Prior to this disposal, the company held 12,500,000 shares, representing 10.76% of the total voting capital. Following the open market sale, its holding stands at 10,013,888 shares, or 8.62%.

Consolidated Holding Reduction

Ashoka Metcast Limited is part of a group of Persons Acting in Concert (PAC) that includes Lesha Industries Limited, Shalin Ashok Shah, Ashok Chinubhai Shah, and Leena Ashok Shah. The combined holding of this group also declined due to the sale by the primary entity.

The PAC group’s total voting rights decreased from 11.11% to 8.97% of the total diluted share capital. The individual holdings of Lesha Industries Limited and the three named individuals remained unchanged during this period.

What the Numbers Show

The disposal represents a reduction of 2.14% in the total voting capital for both Ashoka Metcast Limited individually and the PAC group collectively. This move brings the group's consolidated stake below the 10% threshold, which is often a significant regulatory benchmark for substantial acquisition disclosures. The sale was conducted entirely through the open market, indicating a liquidation of existing holdings rather than a transfer to related parties or a strategic block deal.