Realty stock Man Infraconstruction rebounds from intraday low; here's why
The realty stock opened at ₹ 179.85 apiece on National Stock Exchange (NSE) on Wednesday, as compared to previous close of ₹ 178.07 on Tuesday. At 9:45 am, Man Infraconstruction share price dipped over 1 per cent to hit an intraday low of ₹ 177.93, but quickly rebounded to trade at ₹ 179.77 per share.
The company informed the exchanges, on July 22, that the board has approved the conversion of warrants into equity shares with a face value of ₹ 2 each on preferential basis to amount aggregating up to ₹ 1,84,62,33,675 at the rate of ₹ 116.25 per warrant.
' We wish to inform you that the Allotment Committee of the Board of Directors of Man Infraconstruction Limited Company'') at its Meeting held today i.e. July 22, 2025, considered and approved the conversion of 1,58,81,580 (One Crore Fifty Eight Lakhs Eighty One Thousand Five Hundred Eighty) convertible warrants into 1,58,81,580 (One Crore Fifty Eight Lakhs Eighty One Thousand Five Hundred Eighty) equity shares of face value of Rs. 2/- each, on preferential basis, upon receipt of an amount aggregating to Rs. 1,84,62,33,675/- (Rupees One Hundred Eighty Four Crore Sixty Two Lakhs Thirty Three Thousand Six Hundred Seventy Five only) at the rate of Rs. 116.25 per Warrant (being 75% of the issue price per Warrant) from the allottees pursuant to the exercise of their right of conversion of Warrants into Equity Shares in accordance with the provisions of SEBI,' the company said in the exchange filing.
The company further added, ' The allotment has been made for cash, upon the receipt of the remaining exercise price of Rs. 116.25 per Share Warrant (being an amount equivalent to the 75% of the warrant exercise,price of Rs. 155/- per Warrant), aggregating to Rs. 1,84,62,33,675/- (Rupees One Hundred Eighty Four Crore Sixty Two Lakhs Thirty Three Thousand Six Hundred Seventy Five only).'
After the allotment of the new equity shares, the company's total subscribed and paid-up share capital has increased from ₹ 77.56 crore (made up of 38.78 crore shares with a face value of ₹ 2 each) to ₹ 80.73 crore (made up of 40.37 crore shares with a face value of ₹ 2 each).
Prabhudas Lilladher Advisory, Vivek Mahavir Jain, Forbes EMF, Minerva Ventures Fund were among the list of 50 allottees of the equity shares.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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