Manaksia Coated Metals Boosts Production with ₹134.55 Crore Investment

Manaksia Coated Metals & Industries Limited plans to raise ₹134.55 crore through a preferential warrant issue approved on December 2, 2024. Funds will fuel production expansion and tech upgrades to boost output. These initiatives will elevate capacity, margins, and market position, while supporting sustainable practices.

Mumbai – Manaksia Coated Metals & Industries Limited, a premier name in coated metal exports, has secured board approval for a preferential warrant issue to generate ₹134.55 crore in funding. Announced in a meeting held on December 2, 2024, the company aims to enhance capacity and invest in significant technological advancements.

The raised capital will aid the transition to Alu-Zinc Coated Steel production, expanding from 132,000 MTPA to 180,000 MTPA. This 36% hike is set to boost output and revenue. Plans also include a steel coil coating line, increasing Pre-painted Steel capacity to 236,000 MTPA, and a solar power project to bolster sustainability.

Mr. Karan Agrawal, a key director at the firm, highlighted the strategic importance of the equity issue, underscoring the focus on operational enhancements and market demand alignment. These efforts, combined with a push for sustainable energy, aim to elevate the company's competitiveness and environmental responsibility.

(With inputs from agencies.)