Man Industries will raise INR 300 crore through issuance of equity shares, qualified institution placement, convertible shares warrants through preferential issue, rights issue or a combination of all above.
Jan 30, 2025

Man Industries (India) Limited, a company that specializes in the manufacturing and coating of large-diameter carbon steel pipes, has approved a plan to raise INR 300 crore through issuance of equity shares, qualified institution placement, convertible shares warrants through preferential issue, rights issue or a combination of all above.
The global manufacturer of longitudinal submerged arc welded pipes, spirally welded pipes and coating systems, specializing in the production of large diameter carbon steel SAW pipes, said in an exchange filing that its board has approved the plan to raise INR 300 crore.
The board further approved the appointment of Mr. Sandeep Kumar as the Chief Financial Officer (CFO) and key managerial personnel of the company.
Kumar has earlier served as the CFO of Welspun Global Brands Limited and Director (Finance) of the Raymond Group.
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In August last year, the leading steel pipe manufacturer announced its plans to establish a new plant in Dammam, Saudi Arabia, with an investment of INR 6 billion, to enhance its capacity by 0.4 to 0.5 million tonnes overseas.