Latest news with #AllotmentCommittee
Mint
2 days ago
- Business
- Mint
1380% rally in five years! Multibagger realty stock to be in focus on Monday; here's why
Shares of Man Infraconstruction will be in focus on Monday, July 14, after the company revealed that it has issued 29.66 lakh equity shares through the conversion of warrants valued at ₹ 34.48 crore. Man Infraconstruction on Friday announced the allotment of 29,66,220 equity shares following the conversion of an equivalent number of convertible warrants. The allotment was approved by the Allotment Committee of the company's board of directors at its meeting held on July 11, 2025. The equity shares, with a face value of ₹ 2 each, were allotted on a preferential basis to warrant holders who exercised their right to convert the warrants into shares. The conversion took place after the company received an aggregate payment of ₹ 34.48 crore from the allottees, calculated at ₹ 116.25 per warrant — representing 75% of the total issue price of ₹ 155 per warrant. The newly issued equity shares will rank pari-passu with the existing equity shares of the company in all respects, including dividend entitlements. Following this allotment, the subscribed and paid-up share capital of Man Infraconstruction has increased to ₹ 77.56 crore, comprising 38,77,84,925 equity shares of ₹ 2 each. Prior to this, the company's paid-up capital stood at ₹ 76.96 crore. The company also disclosed that 1,85,11,580 convertible warrants are still outstanding. Holders of these warrants are entitled to convert them into equity shares by paying the remaining 75% of the issue price — ₹ 116.25 per warrant — within 18 months from the date of warrant allotment. Man Infraconstruction is a Mumbai-based infrastructure development company with interests in engineering, procurement, and construction (EPC) services across ports, real estate, and urban infrastructure sectors. On Friday, Man Infraconstruction share price ended 1.57% lower at ₹ 182.10 apiece on the BSE. In the past week the stock fell 3.19%. Stock has been up 25.28% in the past quarter and fell 9.54% in the past year. Over the span of five years, Man Infraconstruction share price has jumped 1384.11%. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
4 days ago
- Automotive
- Economic Times
Ashok Leyland shares gain 2% as record date for 1:1 bonus issue announced
Ashok Leyland shares rose nearly 2% to Rs 254.80 on Thursday after the company announced the record date for its 1:1 bonus share issue. In an exchange filing on Wednesday, the commercial vehicle maker said July 16 has been fixed as the record date to determine eligible shareholders. ADVERTISEMENT The company also stated that the deemed allotment date for the bonus shares is July 17, 2025, and trading in these shares will commence on Friday, July 18, 2025. 'We wish to inform you that the Allotment Committee has fixed Wednesday, July 16, 2025, as the record date for determining eligible shareholders for the allotment of bonus shares. Further, in accordance with SEBI's circular dated September 16, 2024, the deemed date of allotment shall be Thursday, July 17, 2025, and the bonus shares will be available for trading on the next working day, i.e., Friday, July 18, 2025,' the company said in its filing dated July 9. Also Read: These 10 debt-free penny stocks rallied 75-355% in 1 year. Do you own any? The company had earlier announced the 1:1 bonus issue in May, alongside its March quarter results and dividend declaration. This marks Ashok Leyland's first bonus issue since 2011, when it had also issued a 1:1 bonus. Ashok Leyland Q4 Results Ashok Leyland reported a 38% year-on-year rise in standalone net profit to Rs 1,246 crore for the March quarter, compared to Rs 900 crore in the same period last year. Revenue from operations grew 6% YoY to Rs 11,907 crore. ADVERTISEMENT On a sequential basis, profit after tax (PAT) jumped 63% from Rs 762 crore in Q3FY25, while revenue increased 26% from Rs 9,479 company also reported its highest-ever quarterly and annual revenues and EBITDA. EBITDA for Q4 rose 15% YoY to Rs 1,791 crore. ADVERTISEMENT For the full year, PAT grew 26% to Rs 3,303 crore in FY25 from Rs 2,618 crore in FY24, while revenue rose marginally by 1% to Rs 38,753 crore. Also Read: Is the chemical sector entering a new supercycle? Top stocks already up 35–135% in 2025 ADVERTISEMENT According to Trendlyne, the average target price for Ashok Leyland stands at Rs 268, indicating an upside of nearly 6% from current levels. Among the 37 analysts covering the stock, the consensus rating is 'Buy'. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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Business Standard
02-06-2025
- Business
- Business Standard
Ashish Kacholia to buy additional shares in smallcap stock; up 51% in 1 mth
Man Industries share price today: Shares of Man Industries (India) rallied 12 per cent to hit an eight-month high of ₹405.35 on the BSE in Monday's intra-day trade. This comes after the company's board approved fundraising of up to ₹300 crore through the issuance of convertible warrants to the promoter group and equity shares to a non-promoter group, through a preferential issue. The stock price of a small-cap iron & steel company is trading at its highest level since September 2024. In the past month, it has outperformed the market by surging 51 per cent, as compared to a 1 per cent rise in the BSE Sensex. Ashish Kacholia's, Vikas Khemani's stake in Man Industries Investors Ashish Kacholia (2.03 per cent) and Vikas Vijaykumar Khemani (2.44 per cent), collectively held a 4.47 per cent stake in Man Industries as on May 28, 2025, the shareholding pattern data showed. Conversion of warrants by promoter The Allotment Committee of the board of directors of the Company at its meeting held on May 28, 2025, has inter alia considered and approved the allotment of 2.5 million equity shares of face value ₹5 each, upon exercise of the conversion option by Man Finance Private Limited, a Promoter Group entity, in respect of 2.5 million warrants allotted to them by the Board of Directors on December 1, 2023. Board approves ₹300 crore fundraise The board of directors of Man Industries at its meeting held on Saturday, May 31, 2025, inter alia, considered and approved the raising of funds through the issuance of convertible warrants to the promoter group and equity shares to non promoter group, through preferential issue, to raise an amount up to ₹ 300 crore. The board approved issue, offer and allot up to 7.93 million equity shares of face value ₹5 each for cash at a price of ₹328 per equity share for an amount up to ₹260 crore to the non-promoters, on a preferential basis, subject to the approval of shareholders of the company. Man Industries Q4 results Man Industries on May 12, 2025, said that the company delivered its highest-ever revenue, earnings before interest, taxes, depreciation and amortisation (Ebitda), and profit after tax (PAT) on both quarterly and annual bases. The company posted a 45 per cent year-on-year (Y-o-Y) growth in PAT in the financial year 2024-25 (FY25), reflecting robust operational efficiency and the successful execution of strategic initiatives across key domestic and international markets. In the January to March 2025 quarter (Q4FY25), Man Industries' consolidated PAT more than doubled to ₹40.3 crore, against ₹17.2 crore in Q4FY24. Ebitda grew 56.6 per cent YoY at ₹101.60, and margins improved 330 bps to 11.4 per cent. Revenue from operations climbed 9.3 per cent YoY to ₹850.4 crore from ₹778.10 crore in the year-ago quarter. The management said the company's growth momentum is driven by strategic initiatives aimed at expanding capacity, diversifying revenue streams, strengthening market presence, and sharpening its focus on core business operations. Order Book As of FY25-end, the company holds an executable order book of ₹2,500 crore for fulfilment over the next 6–12 months, with a total bid book of ₹15,000 crore, indicating strong demand visibility and revenue growth potential. Outlook Man Industries said the company is targeting a ~20 per cent YoY revenue growth for FY26, backed by the timely execution of ongoing and upcoming projects, capacity expansion, and continued order inflows. With a strategic emphasis on operational excellence, product innovation, and international market expansion, Man Industries is well-positioned to deliver sustained value to all stakeholders, the management said. 'Our targeted expansions into the ERW segment, successful execution of high-value projects, robust order book, and the strategic monetisation of a non-core asset have laid a strong foundation for continued momentum in FY26. With capacity expansions progressing in Saudi Arabia and Jammu, we are confident in our ability to scale operations and deepen our footprint across domestic and global markets,' the management said. About Man Industries Man Industries is one of the largest manufacturers and exporters of large diameter carbon steel line pipes (LSAW, HSAW and ERW), which are used for various high-pressure transmission applications for the oil & gas industry, petrochemicals, water, dredging & fertilisers, hydro-carbon and CGD Sector. The company is undertaking capex to further widen its product offerings by entering the manufacturing of Stainless-Steel Seamless pipes and setting up a new plant at Dammam, Saudi Arabia, with a cost of ₹ ~600 crore. This plant will include line pipe manufacturing and a coating facility, which will cater to Saudi Arabia's growing demand.
