This company shares to be in focus as board approves conversion 29,66,220 Warrants | Check details here

The equity shares, with a face value of Rs 2 each, will carry the same rights as the company’s existing equity shares in all respects, including eligibility for dividends and voting rights. The share capital now stands at Rs 77.56 crore.

Shares of Man Infraconstruction Ltd, the Mumbai-based infrastructure and real estate company, are expected to be in the spotlight on Monday, 14 July, after the company announced a preferential allotment of 29.66 lakh equity shares through the conversion of warrants, amounting to ₹34.48 crore.

Details of the Allotment

The allotment, approved by the board’s Allotment Committee on 11 July 2025, follows the exercise of rights by warrant holders who opted to convert their holdings into equity shares.

Each warrant was converted at ₹116.25, which represents 75 per cent of the total issue price of ₹155 per warrant. The remaining 25 per cent was presumably paid at the time of initial issuance.

Equity Share Details

The equity shares, having a face value of ₹2 each, will rank pari-passu with the company’s existing equity shares in all respects — including dividend eligibility and voting rights. Share Capital Now at ₹77.56 Crore

Following this allotment, the subscribed and paid-up share capital of Man Infraconstruction has increased from Rs 76.96 crore to Rs 77.56 crore, comprising over 38.77 crore equity shares.

The company also revealed that 1.85 crore convertible warrants remain outstanding, which can be converted into equity within 18 months from the original allotment date, with a further payment of Rs 116.25 per warrant.

The funds raised through the warrant conversion are likely to bolster the company’s balance sheet and working capital, given the capital-intensive nature of its business which spans engineering, procurement and construction (EPC) in ports, real estate, and urban infrastructure.

Man Infraconstruction has emerged as a multibagger stock, posting a remarkable 1384.11 per cent return over the past five years. This makes it one of the standout performers in India’s mid-cap real estate space.

Despite some short-term volatility — the stock fell 1.57 per cent to close at ₹182.10 on the BSE on Friday — it remains up 25.28 per cent for the current quarter. The stock, however, has corrected 9.54 per cent over the past year, possibly due to profit-booking and broader market weakness.