Manorama Industries Limited has announced the launch of its Qualified Institutions Placement (QIP) of equity shares. The issue, which opened on June 29, 2026, aims to raise capital through the issuance of equity shares with a face value of ₹2 each. The company has set a floor price of ₹1,547.18 per Equity Share, determined by the SEBI ICDR Regulations. This placement follows approvals from the Board of Directors and shareholders.
Qualified Institutions Placement Launched
Manorama Industries Limited has officially launched its Qualified Institutions Placement (QIP) of equity shares, effective June 29, 2026. This move is part of the company’s strategy to raise capital by issuing equity shares of face value ₹2 each. The placement is being conducted under Chapter VI of the SEBI ICDR Regulations and relevant sections of the Companies Act, 2013.
Key Approvals and Floor Price
The launch of this issue follows the necessary approvals. The Board of Directors of Manorama Industries Limited granted its approval on March 12, 2026. Subsequently, shareholders gave their nod through a special resolution via postal ballot on April 19, 2026. The Board, in its meeting held on June 29, 2026, approved the Preliminary Placement Document and authorized the opening of the issue.
A significant aspect of the QIP is the determination of the floor price. The company has fixed the floor price at ₹1,547.18 per Equity Share. This price has been calculated based on the pricing formula stipulated under Regulation 176 of the SEBI ICDR Regulations. The ‘Relevant Date’ for the purpose of the issue, as per Regulation 171(b), has been set as June 29, 2026.
Discount and Disclosure Compliance
As per Regulation 176(1) of the SEBI ICDR Regulations and shareholder approval, Manorama Industries Limited may offer a discount of not more than 5% on the determined floor price. The company has also confirmed that the Preliminary Placement Document will be filed with the relevant authorities and made available on the company’s website, www.manoramagroup.co.in.
Trading Window Closure
In compliance with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, the trading window for dealing in the securities of Manorama Industries Limited will remain closed from June 29, 2026, until further notice. This measure is in place to ensure the integrity of the QIP process.
Board Meeting Details
The Board of Directors’ meeting on June 29, 2026, to discuss and pass these resolutions, commenced at 08:50 p.m. (IST) and concluded at 09:18 p.m. (IST).
Source: BSE
