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Mahan Industries Limited to allot shares and warrants, potentially shifting control in Ahmedabad
03-Aug-2026, 09:59
Mahan Industries Limited plans a preferential allotment of 32,50,000 equity shares and 21,65,521 warrants on August 3, 2026, in Ahmedabad, according to a recently released document. The allotment will transition several individuals and entities from "Non-Promoter" to "Promoter" or "Proposed Promoter Group" status, potentially resulting in a change of control for the company. Key allottees include Sanjaykumar Sevantilal Shah HUF, who will receive 5,00,000 equity shares and warrants, and GVP Infotech Limited, slated to receive 20,00,000 equity shares and warrants. The proposal assumes full subscription of the equity shares and warrants, along with their subsequent exercise. The document details the ultimate beneficial owners for each allottee, including various Hindu Undivided Families (HUFs) and individuals.
Mahan Industries Limited plans a preferential allotment of 32,50,000 equity shares and 21,65,521 warrants on August 3, 2026, in Ahmedabad, according to a recently released document. The allotment will transition several individuals and entities from "Non-Promoter" to "Promoter" or "Proposed Promoter Group" status, potentially resulting in a change of control for the company. Key allottees include Sanjaykumar Sevantilal Shah HUF, who will receive 5,00,000 equity shares and warrants, and GVP Infotech Limited, slated to receive 20,00,000 equity shares and warrants. The proposal assumes full subscription of the equity shares and warrants, along with their subsequent exercise. The document details the ultimate beneficial owners for each allottee, including various Hindu Undivided Families (HUFs) and individuals.