Appoints CARE Ratings as monitoring agency for preferential issue proceeds
Manba Finance appointed CARE Ratings Ltd as monitoring agency for preferential issue proceeds.
By ScoutQuest · · 2 min read
- Securities in Preferential Issue
- ~50 lakh equity shares + ~24.07 lakh warrants
- Issue Price
- ₹135 per security
- Issue Size
- ~₹100 crore
Appointment of a monitoring agency
Manba Finance Ltd has appointed CARE Ratings Limited, a credit rating agency registered with SEBI, as the monitoring agency for the proceeds of its preferential issue. The company states the appointment has been made in the interest of investors.
What the preferential issue consists of
- ~50 lakh equity shares of face value ₹10 each
- ~24.07 lakh warrants, each convertible into one equity share of face value ₹10 each
- Issue price of ₹135 per security
- Total issue size of ~₹100 crore
Why a monitoring agency was named
Regulation 162A of the SEBI ICDR Regulations sets a size threshold above which a monitoring agency must be appointed for an issue. Here the issue size of ~₹100 crore is below that threshold. The company says the appointment was still made following a requirement communicated by the stock exchanges in connection with the in-principle approval process for the issue.
What a monitoring agency does
It independently tracks how the money raised through the issue is actually used, in line with applicable regulatory requirements. In simple terms, an outside agency keeps a check that the funds go towards the stated purposes, which is a shareholder-protection step.
Reading this announcement
- This is a process and compliance step connected to the preferential issue, involving shares and warrants convertible into shares.
- The monetary size involved is ~₹100 crore, and the securities are priced at ₹135 each.
- The company has stated it will make the requisite disclosures and comply with the SEBI LODR Regulations, the SEBI ICDR Regulations and other applicable laws.
What to watch
The next useful data points would be the progress of the preferential issue itself and periodic monitoring reports on how the proceeds are utilised. For a retail reader, the takeaway is that an external agency now oversees the use of the issue proceeds.
Also from Manba Finance
EGM outcome: all 7 resolutions passed, including preferential issue of warrants and equity shares
19 Oct 2026
Manba Finance allots 60,000 Non-Convertible Debentures at 10.50% on private placement
13 Oct 2026
Corrigendum to EGM notice: clarifications on proposed preferential issue of equity shares and warrants
12 Oct 2026
More numbers
- Equity shares in the preferential issue50,00,013 equity shares
- Warrants in the preferential issue24,07,223 warrants
- Face value per equity share₹10/-
- Issue price per security₹135 per security
- Issue size of the preferential issue₹99,99,76,860
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