Man Industries shoots up ~7% after allotment of 10.26 lakh equity shares

1 Apr 2022 , 10:02 AM

Man Industries Limited on March 31, 2022, has further allotted 10,26,000 equity shares of the face value of Rs5 each. The equity shares were allotted at an issue of Rs65 each (including a premium of Rs60 per share) fully paid-up upon exercising the option available with warrant holder ‘Man Finance Private Limited’ (MFPL – a promoter group entity).

The allotment is to convert 10,26,000 warrants out of the remaining 19,50,000 warrants from the total 30,00,000 warrants which was allotted by the Allotment Committee to MFPL on November 9, 2020 on a preferential basis.

At around 10.05 am, Man Industries (India) Ltd was trading at Rs102 per share up by Rs6.4 or 6.69% from its previous closing of Rs95.60 per share on the BSE.

The scrip opened at Rs99.90 and has touched a high and low of Rs105 and Rs99.85 respectively.