Apart from Kacholia, the Mansukhani family-promoted company allotted shares to RBA & Finance Investment Company and a dozen mutual funds. The issue comprised an allotment of up to 6,811,945 fully paid-up equity shares of face value Rs 5 apiece for cash at a price of Rs 367 per equity share, including a premium of Rs 362. The total issue size was worth nearly Rs 250 crore.
The MAN Group has evolved into a diverse organisation, with its flagship company MAN Industries (India) established in 1988.
The group’s primary focus lies in the manufacturing and coating of large diameter Carbon steel pipes, ERW pipes. It is involved in infrastructure, realty, and trading. The group is further expanding its operations into core sectors such as energy, mining, and hospitality, among others.
Man Industries shares are trading above its 50-day and 200-day simple moving averages (SMAs) and momentum indicators show that the stock is in an overbought zone according to Trendlyne data. Despite a one-way rally, the stock has exhibited stability as its 1-year beta stands at 0.3.
Citing the latest corporate shareholdings, Trendlyne suggests that Kacholia publicly holds 49 stocks with a net worth of over Rs 3,114.9 crore. The celebrity investor slashed holdings in multibagger Balu Forge Industries in the December-ended quarter while raising stakes in smallcap La Opala RG by 7 bps on a quarter-on-quarter basis
