790% rally in 5 years! Small-cap steel pipe maker's stock to be in focus after ₹300 crore rights issue update
Small-cap stock: Man Industries India Ltd's shares will be in focus of stock market investors on Tuesday, 3 June 2025, after the Board of Directors on Monday approved a rights issue of preferential shares and warrants, according to an exchange filing.
The BSE filing data shows that the company aims to raise ₹ 300 crore from the rights issue of the preferential shares and the warrants. The company will be issuing 12,19,512 or over 12.19 lakh share warrants to Man Finance Pvt. Ltd. at the price of ₹ 328, amounting to ₹ 39.99 crore.
The warrants will be convertible to equity shares in one or more tranches within 18 months from the date of allotment.
Man Industries India will also issue 79,26,822 or over 79.26 lakh fully paid-up equity shares with a face value of ₹ 5 apiece, amounting to ₹ 259.99 crore from 26 non-promoter entities, according to the BSE filing.
The company aims to use the ₹ 300 crore raised from the rights issue to fund its ongoing capital expenditure needs for the projects in Jammu and Saudi Arabia. They also seek to support the working capital needs and fuel their long-term growth and strategic initiatives.
Man Industries shares closed 7.36 per cent higher at ₹ 403.15 after Monday's stock market session, compared to ₹ 375.50 in the previous market close. The company announced the rights issue approval development after market operating hours on 2 June 2025.
Man Industries' shares have given stock market investors more than 795 per cent returns on their investments in the last five years, and 7.81 per cent gains in the last one-year period.
On a year-to-date (YTD) basis, the shares have gained 23.39 per cent on the Indian stock market in 2025, and have jumped 50.24 per cent in the last one-month period.
The stock hit its 52-week high level at ₹ 513 on 8 July 2025, while the 52-week low level was at ₹ 201.45 on 3 March 2025, according to data collected from the BSE website. The steel pipe maker's market capitalisation (M-Cap) was at ₹ 2,609.80 crore as of the stock market close on 2 June 2025.
Read all stories by Anubhav Mukherjee
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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