Manaksia Coated Metals Secures ₹150 Crore QIP Funding

Coated steel manufacturer and exporter Manaksia Coated Metals & Industries (MCMIL) has finalized a ₹150 crore capital raise through a fully subscribed Qualified Institutional Placement (QIP), managed solely by Cumulative Capital. The capital boost will enhance financial flexibility, supporting the company's current investment phase—specifically key backward integration and manufacturing expansion plans. Backed by solid export demand, MCMIL remains on track toward its long-term objective of tripling manufacturing output by FY29.

News by Rahul Yelligetti.