Manorama Industries Limited has announced that its Board of Directors will convene on Thursday, March 12, 2026. The primary agenda item is the consideration and evaluation of a proposal to raise capital by issuing various instruments or securities, including equity shares or convertible instruments. The company also plans to seek shareholder consent via a Postal Ballot for this proposed fundraising activity.
Board Meeting Scheduled for Capital Infusion Plan
Manorama Industries Limited has officially intimated that a Meeting of the Board of Directors is scheduled to be held on Thursday, March 12, 2026. This announcement serves as the formal notice required under applicable disclosure norms.
Primary Agenda: Fundraising Through Securities
The Board is set to consider and evaluate a proposal for raising funds through the issuance of various instruments or securities. This potential issuance includes, but is not limited to, equity shares, non-convertible debt instruments along with warrants, or any other eligible convertible securities.
The fundraising mechanism may involve one or more tranches, potentially utilizing Qualified Institutions Placement (QIP) or any other permissible mode, subject to applicable laws and necessary regulatory approvals.
Seeking Shareholder Consent
In addition to evaluating the fundraising proposal, the Board will also seek approval for the issuance of a Postal Ballot Notice. This notice is necessary to obtain the necessary consent from the members of the Company for:
- Raising funds through Qualified Institutions Placement (QIP) or other permissible modes via the issuance of Securities.
The Company confirms that it will treat this information as compliance with the applicable provisions of the relevant regulations.
Source: BSE
