{"id":114673,"date":"2023-11-30T13:51:33","date_gmt":"2023-11-30T08:21:33","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=114673"},"modified":"2023-11-30T13:52:02","modified_gmt":"2023-11-30T08:22:02","slug":"stock-jumps-after-companys-board-approved-550-cr-fundraising-through-preferential-issues","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/stock-jumps-after-companys-board-approved-550-cr-fundraising-through-preferential-issues\/","title":{"rendered":"Stock jumps after company\u2019s board approved \u20b9 550 Cr fundraising through preferential issues"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-592934191\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of this small-cap company gained up to 1.42 percent after the company\u2019s board of directors approved Rs 550 crore fundraising through preferential issues.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2116752713\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>With a market capitalization of Rs 7,103.88 Crores. <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/MANINFRA\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Man Infraconstruction Ltd<\/a><\/strong>, On Thursday, The shares were trading at Rs 191.35 a share, an increase of 1 percent from the previous closing price.\u00a0<\/p><p>According to the company filing, Man Infraconstruction Ltd&#8217;s board of directors approved Rs 550 crore fundraising through preferential issues. This will be done, if all the legal and regulatory requirements are met, by issuing convertible equity warrants through a preferential issue. When necessary, the approval process involves getting the company&#8217;s shareholders&#8217; approval.&nbsp;<\/p><p>In addition to the paragraph above, up to 3,55,05,000 warrants will be issued and allocated to raise the necessary funds. Each warrant has a face value of Rs. 2\/- and is convertible into one (1) equity share on a preferential basis at an issue price of Rs. 155\/-, which includes a premium of Rs. 153\/-per warrant.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-108072010\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The decision of Man Infraconstrustion Ltd to raise capital is ascribed to the favorable current trend in the real estate industry, in conjunction with the company&#8217;s well-established project execution track record and robust balance sheet. It is anticipated that the proposed fund infusion through the preferential issuance of convertible equity warrants will support and propel the business of the Company into significant future growth.&nbsp;<\/p><p>Man Infraconstrustion Ltd.&#8217;s Engineering, Procurement, and Construction (EPC) portfolio has a total order book value of Rs. 1,156 crore as of Q2FY24. The 5.9 million square foot company project is divided into 2.2 million square feet of ongoing projects, 3.7 million square feet of upcoming projects, and balance potential.&nbsp;<\/p><p>Looking into the company&#8217;s performance, Man Infraconstrustion Ltd.&#8217;s revenue decreased by 46 percent from Rs 401 Crore in Q2FY23 to Rs 215 Crore in Q2FY24. During the same period, net profits increased by 3 percent from Rs 63 crore to Rs 65 crore.&nbsp;<\/p><p>With experience and execution capabilities in the port, residential, commercial &amp; industrial, and road construction segments, Man Infraconstruction Limited (MICL) is an integrated EPC (Engineering, Procurement &amp; Construction) company.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by:- Abhishek Singh<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-2794686893\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of this small-cap company gained up to 1.42 percent after the company\u2019s board of directors approved Rs 550 crore fundraising through preferential issues.&nbsp; With a market capitalization of Rs 7,103.88 Crores. Man Infraconstruction Ltd, On Thursday, The shares were trading at Rs 191.35 a share, an increase of 1 percent from the previous [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":104923,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[14801,12541,14560,12540,948,936],"class_list":["post-114673","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-man-infraconstruction-fund-raise","tag-man-infraconstruction-latest-news","tag-man-infraconstruction-latest-order","tag-man-infraconstruction-share-price","tag-stock-market","tag-stock-market-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stock jumps after company\u2019s board approved \u20b9 550 Cr fundraising through preferential issues - 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