EGM on Oct 19, 2026 to seek nod for Rs 99.99 crore preferential issue, capital increase and director re-appointments

EGM called for Monday, October 19, 2026 at 1:00 PM via video conferencing.

Thu 24 Sep 2026

EGM Date and Time

Monday, October 19, 2026 at 1:00 PM via video conferencing

Authorised Capital Increase

From ₹55,00,00,000/- to ₹65,00,00,000/-

Total Capital Raise

Up to ₹99,99,76,860/- for lending and financing needs

Equity Shares Preferential Issue

50,00,013 equity shares at ₹135/- each (₹67,50,01,755/-) to public category allottees

Convertible Warrants Issue

24,07,223 fully convertible warrants at ₹135/- each (₹32,49,75,105/-) to Promoter/Promoter Group, convertible within 18 months

What is happening

Manba Finance has issued a notice for an Extra-Ordinary General Meeting on Monday, October 19, 2026 at 1:00 P.M., to be held through video conferencing / other audio-visual means. These are proposals placed before shareholders for approval, not yet approved decisions.

Capital raise proposed

• Authorised share capital proposed to rise from ₹ 55,00,00,000/- (5,49,00,000 equity shares of ₹10 each plus 1,00,000 preference shares of ₹10 each) to ₹ 65,00,00,000/- (6,49,00,000 equity shares of ₹10 each plus 1,00,000 preference shares), with a matching change to Clause 5 of the Memorandum.
• Preferential issue of up to 50,00,013 equity shares at ₹135/- per share (face value ₹10, premium ₹125), aggregating up to ₹67,50,01,755/-, to Non-Promoter/Public category allottees.
• Preferential issue of up to 24,07,223 fully convertible warrants at ₹135/- per warrant, aggregating up to ₹32,49,75,105/-, to the Promoter/Promoter Group.
• Grand total: 74,07,236 securities for up to ₹ 99,99,76,860/-, to be used towards the company's lending and financing requirements.

Who is subscribing

Promoter side: Manba Investments and Securities Private Limited (22,22,223 warrants, ₹30,00,00,105) and Manish Kiritkumar Shah (1,85,000 warrants, ₹2,49,75,000). Public side includes Zenila Ventures LLP (14,81,482 shares), Limona Ventures LLP and LYSA Trading LLP (7,40,741 shares each), Hem Securities Limited and Sanjay Popatlal Jain (3,70,371 shares each), among others.

Warrant terms

• Each warrant converts into one equity share of ₹10 face value within 18 months from allotment.
• 25% of the issue price, i.e. ₹33.75/- per warrant, is payable upfront; the balance 75%, i.e. ₹101.25/-, on conversion.
• Warrants carry no voting rights or dividend until converted. If unexercised within 18 months, they lapse and the upfront amount stands forfeited.
• The relevant date for pricing is Friday, September 18, 2026. Shares and warrants are subject to lock-in under Chapter V of SEBI ICDR Regulations.

Board re-appointments proposed

• Ms. Neelam Tater as Independent Director for a second term of 5 years, October 25, 2026 to October 24, 2031.
• Mr. Manish Kiritkumar Shah as Managing Director for 3 years from April 01, 2027 to March 31, 2030, with minimum annual remuneration of ₹3,00,00,000/- and an overall ceiling of 5% of net profits.
• Mr. Monil Manish Shah as Whole-Time Director for 3 years from January 15, 2027 to January 14, 2030, minimum annual remuneration ₹ 1,50,00,000/-, ceiling 3% of net profits.
• Ms. Nikita Manish Shah as Whole-Time Director for 3 years from January 15, 2027 to January 14, 2030, minimum annual remuneration ₹ 90,00,000/-.

What it means for investors

If approved and fully subscribed, new shares and warrant conversions would expand the equity base, which dilutes existing shareholders' proportional holding. At the same time, the money raised is earmarked for lending and financing, which is the core business of an NBFC. Promoters are participating via warrants at the same ₹135/- price, paying 25% now and the rest only on conversion.

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