Manorama Industries board approves ₹500-cr fundraise via QIP

Manorama Industries Ltd on Thursday, March 12, said its board has approved raising funds of up to ₹500 crore through the issuance of securities, including equity shares, non-convertible debt instruments with warrants, convertible securities or any other eligible instruments, in one or more tranches.

The company said the fundraise may be carried out through qualified institutional placements (QIP) or any other permissible mode under applicable laws, subject to necessary regulatory and shareholder approvals.

According to an exchange filing, the board also approved a postal ballot notice under Section 110 of the Companies Act, 2013 to seek shareholders’ approval for the proposed fundraising. The notice will be sent via email to eligible shareholders whose names appear in the register of members or list of beneficial owners as of March 13, 2026.

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The board further approved the appointment of Mehta & Mehta Company Secretaries as scrutinisers for conducting the postal ballot and MUFG Intime India Private Limited (formerly Link Intime India Pvt Ltd) to provide the e-voting facility, according to the exchange filing.

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