Man Industries Board Approves Plan To Raise Rs 300 Crore
It plans to raise the funds through issuance of equity shares, convertible shares warrants through preferential issue, QIP, rights issue or a combination thereof.
Man Industries (India) Ltd. on Saturday said its board has approved a plan to raise Rs 300 crore and appointed Sandeep Kumar as the chief financial officer.
The company plans to raise up to Rs 300 crore through issuance of equity shares, convertible shares warrants through preferential issue, qualified institution placement, rights issue or a combination thereof, Man Industries India said in an exchange filing.
The board, at its meeting on Saturday, also approved the appointment of Sandeep Kumar as the CFO and key managerial personnel with effect from Jan. 18, 2025.
In his earlier stints, Kumar has worked with Welspun Global Brands Ltd. and Raymond Group in the capacity of CFO and director (finance) respectively and others.
Man Industries is one of the largest players in longitudinal submerged arc welded pipes, spirally welded pipes and coating systems.
