MAN Industries Raises ₹255 Crore to Power Expansion

MAN Industries (India) Ltd, a leading manufacturer of electric resistance welded (ERW) steel pipes, has raised ₹255 crore through a preferential allotment of equity shares to a group of non-promoter institutional and strategic investors.

The company issued 77,74,383 fully paid-up equity shares at ₹328 per share. Notable investors in this round include Ashish Kacholia, Carnelian Asset Management, Ovata Capital, Ashika Global Finance, Capri Global Holdings, and RBA & Finance Investment Co.

The funds will be used to support MAN Industries’ ongoing expansion projects in Jammu and Saudi Arabia, as well as to meet working capital requirements. The capital infusion is expected to enhance the company’s capacity to tap into emerging infrastructure opportunities, both within India and in international markets.

Preferential allotment enables companies to raise capital swiftly by issuing shares directly to select investors—often at a negotiated price—making it an efficient alternative to traditional public offerings.

News by Rahul Yelligetti.