Mangalam Industrial Finance Three Promoters Report Shareholding Decline Post Rights

Mangalam Industrial Finance has received shareholding disclosures from three promoters under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, dated December 16, 2025. The disclosures reveal significant decreases in promoter equity shareholdings following the company's recent rights issue allotment to other promoters and public shareholders.

Multiple Promoter Shareholding Changes

Three promoters filed separate disclosures reporting decreased shareholding percentages due to the rights issue impact:

Promoter Name	Shares Held	Before Rights (%)	After Rights (%)	Change (%)
Venkata Ramana Revuru	13,45,30,008	14.00%	9.45%	-4.55%
Sojan Vettukalel Avirachan	2,50,02,731	2.60%	1.76%	-0.84%
Garuda Mart India Private Limited	4,73,93,371	4.93%	3.33%	-1.60%

Rights Issue Impact on Capital Structure

The rights issue significantly expanded the company's share capital, affecting all promoter shareholding percentages while their absolute share numbers remained unchanged:

Capital Parameter	Before Rights Issue	After Rights Issue	Change
Total Voting Capital	96,16,43,500 shares	1,42,51,29,928 shares	+48.20%
Share Capital Value	₹96.16 crores	₹142.51 crores	+48.20%
Face Value per Share	Re. 1.00	Re. 1.00	Unchanged

Individual Promoter Disclosures

Venkata Ramana Revuru, holding the largest promoter stake, saw his shareholding percentage drop from 14.00% to 9.45% despite maintaining 13,45,30,008 shares. Sojan Vettukalel Avirachan's holding decreased from 2.60% to 1.76% with 2,50,02,731 shares, while Garuda Mart India Private Limited's stake reduced from 4.93% to 3.33% with 4,73,93,371 shares.

Regulatory Compliance and Corporate Action Details

All three promoters submitted their required disclosures to BSE Limited on December 16, 2025, fulfilling regulatory obligations under SEBI takeover regulations. The filings confirm that the shareholding changes resulted from allotment of fully paid-up equity shares to other promoters and public shareholders under the rights issue basis. The rights issue involved 46,34,86,428 equity shares issued at par value of Re. 1.00 each, successfully raising additional capital while proportionally diluting existing shareholding percentages across all stakeholders.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+3.13%	+13.79%	-28.78%	-22.66%	-65.63%	+65.00%

Mangalam Industrial Finance Limited (MIFL) has successfully concluded its rights issue, achieving a preliminary subscription rate of 95.37% after removing technical rejections. The company's board of directors, in a meeting held on November 28, 2025, approved key details of the rights issue outcome.

Rights Issue Highlights

Particulars	Details
Preliminary Subscription Rate	95.37%
Total Applications Received	51,83,921
Additional Shares Approved	49,28,728
Number of Eligible Shareholders	34

The board unanimously resolved to approve the inclusion of 49,28,728 additional equity shares. These shares were received from 34 eligible equity shareholders who had renounced their Rights Entitlements and applied for additional equity shares beyond their original entitlements.

Board Meeting Details

Particulars	Information
Meeting Date	November 28, 2025
Meeting Commencement Time	17:30 P.M. (IST)
Meeting Conclusion Time	18:00 P.M. (IST)

The company has stated that the detailed outcome of the board meeting will be available on its official website at www.miflindia.com .

This rights issue outcome demonstrates a strong interest from existing shareholders in increasing their stake in the company. The high subscription rate, coupled with applications for additional shares, suggests confidence in Mangalam Industrial Finance's future prospects.

Investors and stakeholders are advised to refer to the company's official communications for any further details or clarifications regarding the rights issue outcome.