Maan Aluminium Limited , a key player in the Indian aluminum industry, has announced plans for a capital raise through a preferential share issue. The company has scheduled an Extraordinary General Meeting (EGM) for November 29, 2025, to seek shareholder approval for this strategic move.

Key Details of the Preferential Issue

Fund Utilization Plan

The company has outlined a strategy for utilizing the funds raised:

Impact on Shareholding Structure

The preferential issue is expected to impact the company's shareholding pattern:

• Pre-issue promoter shareholding: 58.87%
• Post-issue promoter shareholding: 55.82%

This change indicates a slight dilution in promoter holding, potentially increasing the public float of the company's shares.

Lock-in Period

The newly issued shares will be subject to a lock-in period:

• Promoter category: 18 months
• Public category allottees: 6 months

This preferential issue represents a significant move for Maan Aluminium Limited, potentially strengthening its financial position and supporting its growth initiatives. The substantial allocation towards capital expenditure on aluminum extrusion projects suggests the company's focus on expanding its production capabilities.

Investors and market watchers may keep a close eye on how this capital infusion impacts the company's operations and financial performance in the coming quarters. The implementation of the planned projects and use of the additional working capital could be key factors in determining the long-term benefits of this preferential issue for Maan Aluminium Limited and its shareholders.

Maan Aluminium Limited has achieved a significant milestone in its capital raising initiative, securing in-principle approval from both the National Stock Exchange of India Limited (NSE) and BSE Limited for its preferential issue of equity shares. The company's Board of Directors had previously approved the issuance of up to 59,00,000 equity shares, each with a face value of Rs 5.00, at an issue price of Rs 141.00 per share, potentially raising Rs 831.90 crore.

Stock Exchange Approvals and Regulatory Compliance

The company announced receipt of in-principle approvals from both major stock exchanges for the preferential issue to promoter and non-promoter categories. The approvals come with specific conditions that the company must fulfill:

Key Regulatory Conditions

Both NSE and BSE have outlined mandatory compliance requirements for the successful completion of the preferential issue. The exchanges have specified that the company must ensure strict adherence to provisions of the Companies Act 2013, Securities Contracts Regulation Act 1956, SEBI Act 1992, and the Depositories Act 1996.

The regulatory framework also includes compliance with Chapter V of SEBI ICDR Regulations 2018 and SEBI LODR Regulations 2015. Additionally, the company must strengthen internal controls to monitor trades executed by proposed allottees and obtain undertakings confirming no intra-day trading until allotment completion.

Investor Allocation Structure

The preferential issue encompasses both promoter and non-promoter public category investors with the following major allocations:

Corporate Governance and Timeline

The Board has approved amendments to the company's Articles of Association to incorporate provisions for private placement and preferential issue of securities, subject to shareholder approval. An Extra-Ordinary General Meeting has been scheduled for November 29, 2025, via video conferencing.

The e-voting period for shareholders runs from November 26, 2025, at 9:00 AM IST to November 28, 2025, at 5:00 PM IST, with November 22, 2025, as the cut-off date for voting eligibility. The company must file the listing application within twenty days from the date of allotment and comply with all post-issue formalities as specified by the exchanges.