Multibagger stock engaged in manufacturing and trading of steel pipes used in oil and gas, the hydrogen industry, and many other industries in the focus after well-known players like Ashish Kacholia, RBA & Finance Investment Co, Bandhan Multicap Fund, and many more take a stake in it
With a market capitalization of Rs. 2,606 Crores, the shares of Man Industries were trading at Rs. 433.55, down 3.64 percent from its previous day’s close price of Rs. 449.95. It has delivered multibagger returns of 432 percent in a year.
As per the company’s filing on BSE, Man Industries Limited has allotted 68.11 lakh shares at Rs 367 per share which amounts to Rs 249.99 crore to 15 different investors, which includes well-known players like Ashish Kacholia, RBA & Finance Investment Co., Bandhan Multicap Fund and many more
Out of the allottees Ace investor Ashish Kacholia has been allotted 13.62 lakh equity shares at Rs. 367 for a consideration of ~Rs. 50 Crores. He holds a portfolio worth Rs. 3,113 Crores in well-known companies like Safari Industries, Gravita India, PCBL, Carysil, and many more.
Recently Man Industries Limited achieved a significant milestone after the successful testing of its pipes for safe hydrogen transportation conducted by a leading European Research Centre for hydrogen transport.
Man Industries Limited is engaged in the business of manufacturing and trading longitudinal submerged arc welded (LSAW) and helically submerged arc welded (HSAW) pipes used for various purposes in industries such as oil & gas, water supply, sewerage, agriculture, construction, and many more.
It has made Further diversification into Seamless Stainless Steel Pipe to serve the Chemical, Oil and gas, and Fertilizers industry.
It has a strong customer base with well-known players like Reliance, Larsen & Toubro, ONGC, Adani, Shell Global Solutions, BPCL, IOCL, Kuwait Oil Compan and many more.
Its revenue from operations grew 4.34 percent, from Rs. 2,139 Crores in FY22 to Rs. 2,231 Crores in FY23, accompanied by profits of Rs. 102 Crores to Rs. 68 Crores.
Written by: Bharath K.S
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