Man Infraconstruction has filed its quarterly monitoring agency report for Q3FY26 with stock exchanges, detailing the utilization of proceeds from its preferential warrant issue. The report, prepared by ICRA Limited and reviewed by the company's Board of Directors and Audit Committee, covers the quarter ended December 31, 2025.

Warrant Issue and Proceeds Overview

The company's preferential warrant issue details reveal the impact of undersubscription on fund availability:

The reduced proceeds of INR 512.64 crore, compared to the original issue size of INR 543.22 crore, resulted from undersubscription of the warrants. ICRA Limited is monitoring this revised amount for the current reporting period.

Fund Utilization Progress

The company's fund deployment across various business objectives shows steady progress during Q3FY26:

During Q3FY26, the company utilized INR 57.35 crore, bringing cumulative utilization to INR 221.45 crore. The largest deployment was INR 48.21 crore for expanding EPC and real estate business through new project acquisitions.

Deployment of Unutilized Funds

The remaining INR 291.19 crore has been strategically deployed in interest-bearing instruments to optimize returns:

Fixed Deposits with Banks:

• Bank of Baroda: Multiple deposits totaling INR 148.06 crore with returns ranging from 6.25% to 7.15%
• Union Bank: Deposits worth INR 90.05 crore earning 5.99% to 6.40% returns
• Maturity periods extend from May 2026 to December 2026

Mutual Fund Investments:

• HSBC Overnight Fund: INR 14.53 crore (5.36% return)
• Aditya Birla Sunlife Overnight Fund: INR 9.54 crore (5.37% return)
• Various other funds totaling INR 26.25 crore

Revised Cost Structure

The Board of Directors approved revised cost allocations in November 2025 to reflect the undersubscribed warrant proceeds:

Monitoring Agency Assessment

ICRA Limited, serving as the monitoring agency, confirmed no material deviations from the stated objects of the warrant issue. The agency verified that all utilization aligns with disclosures in the offer document and the revised cost structure approved by the Board. The monitoring process involved reviewing peer-reviewed CA certificates, management confirmations, and bank statements of the proceeds account.

The company has deployed general corporate purpose funds totaling INR 16.25 crore primarily for issue-related expenses and consulting services. No delays in implementation of stated objects were reported, and the company continues to progress toward its expansion objectives in the EPC and real estate sectors.

Man infraconstruction Limited has scheduled a board meeting to review its quarterly financial performance, marking an important milestone in the company's regulatory compliance and investor communication process.

Board Meeting Details

The company has formally notified stock exchanges about the upcoming board meeting through a regulatory filing dated February 03, 2025. The meeting is scheduled for Wednesday, February 11, 2025, where directors will deliberate on crucial financial matters.

Trading Window Restrictions

In adherence to regulatory requirements, the company has implemented trading restrictions to ensure compliance with insider trading norms. These measures are designed to maintain market integrity during the financial results announcement period.

Regulatory Compliance Framework

The trading window closure follows the company's "Code of Internal Procedures and Code of Conduct for Prohibition of Insider Trading in Securities," adopted under SEBI (Prohibition of Insider Trading) Regulations, 2015. This framework ensures that all designated persons and their immediate relatives refrain from trading in company securities during sensitive periods.

Stock Exchange Communication

Man Infraconstruction Limited has formally communicated this development to both major Indian stock exchanges. The company maintains its listing on NSE under the symbol MANINFRA and on BSE with scrip code 533169. The notification was signed by Company Secretary and Compliance Officer Durgesh Dingankar, ensuring proper regulatory adherence.

The upcoming board meeting represents a standard quarterly practice where the company's financial performance will be evaluated and approved before public disclosure, maintaining transparency with stakeholders and regulatory bodies.