Corporate Feature     

Published: January 31, 2024
Updated: January 31, 2024

Man Infraconstruction Ltd

35 million convertible warrants allotted to Quart MF, Forbes EMF

Man Infraconsruction Ltd, a leader in construction management and real estate development, has announced the allotment of 3,50,46,100 warrants, at a price of Rs 155, with the total amount aggregating Rs 543 crore.

The allotment is on a preferential basis to various non-promoter group entities, including Quant Mutual Fund and FIIs like Forbes EMF, Coeus Global Opportunities Fund, Aries Opportunities Fund Ltd and Minerva Ventures Fund.

Earlier, the company announced its grand foray into the realm of sophistication and luxury with the redevelopment of an ‘exclusive residential marvel’ at the coveted Pali Hill, Bandra West – the epitome of prestige in the heart of Mumbai.

URBAN LUXURY

The MICL (Man Infra Construction Ltd) group’s new venture at Pali Hill is poised to redefine urban living, transcending the ordinary to embrace the extraordinary. In this architectural masterpiece, the company’s unwavering commitment to perfection and meticulous attention to detail come together seamlessly, promising a truly exceptional living experience. With limited residential apartments, this project offers a rare opportunity to those who understand that luxury is not just a statement but a way of life. MICL, through one of its associate entities wherein it holds a 34% stake, will undertake the redevelopment of property belonging to Virgo Co-operative Housing Society Limited, located at Pali Hill. This landmark project has the potential to offer carpet area for sale of about 50,000 sq ft and is expected to generate total revenue of about Rs 500 crore.

CASH-FLUSH

Man Infra (NSE: MANINFRA, BSE: 533169) is a net cash-positive company with an annual revenue of Rs 1,890.35 crore and net profit of Rs 258.57 crore at the consolidated level for the financial year ended March 31, 2023. It is headquartered in Mumbai, and has two business verticals — construction and real estate development.

Man Infra is an integrated EPC (engineering, procurement and construction) company with nearly six decades of experience and execution capabilities in port, residential, commercial & industrial, and road construction segments with projects spanning India. As a real estate developer, Man Infra has delivered 14 residential projects in Mumbai and is recognized for its superior quality construction and timely project delivery. The company has extensive experience in construction management and has inherent skills and resources to develop and deliver real estate projects. For more information, please visit www.maninfra.com.