Mangalam Industrial Finance Ltd (MIFL), a leading Non-Banking Financial Company, has announced the extension of its ongoing rights issue. The issue, which offers 48,08,21,750 equity shares at an issue price of ₹1 per share, aggregates to a total of ₹48.08 crore. Eligible shareholders can apply until November 14, 2025, under the revised schedule.
The rights issue is being conducted in the ratio of 1:1, offering one rights equity share for every two fully paid-up equity shares held by eligible shareholders as of the record date, September 23, 2025.
Initially slated to close on November 7, 2025, the company has now extended the closing date to November 14, 2025, with the rights entitlement trading period extended to November 10, 2025. The proceeds from this issue will be used to strengthen MIFL’s capital base and fund the expansion of its NBFC operations.
MIFL encourages investors to apply through the Applications Supported by Blocked Amount (ASBA) process, a safe and convenient method that allows funds to remain in the investor’s bank account until allotment.
All categories of investors are eligible for ASBA, except shareholders holding shares in physical form, who must apply through the non-ASBA process. Investors who do not renounce their rights entitlement in full are also required to apply through ASBA.
Read More: Andhra Pradesh Gets Approval for India’s Biggest Greenfield Steel Plant!
Mangalam Industrial Finance recently launched a fleet financing initiative aimed at supporting electric vehicle (EV) operators across India. Through this initiative, MIFL seeks to promote green mobility and sustainable transport by offering tailored financial products with flexible repayment options. This forward-thinking approach aligns with India’s sustainability goals and positions MIFL as a key enabler of cleaner transportation solutions.
MIFL, headquartered in Kolkata with a corporate office in Vadodara, is known for offering innovative financial solutions across sectors. Its promoters include Mr Sojan Vettukallel Avirachan, Mr Venkata Ramana Revuru, Mr Yatin Sanjay Gupta, M/s Wardwizard Solutions India Pvt Ltd, and M/s Garuda Mart India Pvt Ltd. The company continues to focus on clean energy and sustainable financing, reinforcing its commitment to India’s green transition.
On November 4, 2025, Mangalam Industrial Finance share price opened at ₹1.70 on BSE, above the previous close of ₹1.64. During the day, it surged to ₹1.70 and dipped to ₹1.65. The stock is trading at ₹1.69 as of 9:22 AM. The stock registered a moderate gain of 3.05%.
Over the past week, it has gained by 3.05%, over the past month, it has declined by 3.98%, and over the past 3 months, it has moved up by 17.36%.
With its ₹48.08 crore rights issue open until November 14, 2025, Mangalam Industrial Finance Ltd is focused on capital strengthening and sustainable growth. The initiative complements its expanding EV financing operations, marking another milestone in its journey toward supporting India’s sustainable economic future.
Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in securities are subject to market risks. Read all related documents carefully before investing.
Published on: Nov 4, 2025, 1:08 PM IST
Team Angel One
We're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
