Next Story
Newszop

Menhood Seeks Shareholders' Nod To Raise INR 42 Cr Via Preferential Issue

Send Push

About a year after its listing, D2C personal care brand Menhood’s parent Macobs Technologies is seeking shareholders’ approval to raise over INR 42 Cr.

In its recent board meeting, the NSE Emerge-listed company’s board approved a proposal to issue 24.8 Lakh fully convertible equity warrants at an issue price of INR 170 on a preferential basis to promoters and persons belonging to promoter and non-promoter groups. This translates to INR 42.16 Cr.

While cofounder and CBO Divya Gandotra will invest INR 8.16 Cr, investment firms Pinnacle Investments and Capital Vision would invest INR 8.5 Cr.

The biggest amount will come from Menhood’s existing investor Raman Talwar, who would invest INR 17 Cr. Post the allotment of preferential warrants, Talwar’s shareholding in the company would increase to 8.15%. Pinnacle Investments and Capital Vision would hold 4.07% stake each after the allotment.

The company will hold an extraordinary general meeting (EGM) on September 1 to seek shareholders’ approval for the preferential issue.

However, Macobs didn’t disclose how it plans to utilise the funds.

Founded in 2019 by Dushyant Gandotra, Shivam Bhateja and Divya Gandotra, Menhood specialises in men’s grooming and personal care products. The company listed within five years of its inception, raisingINR 19.5 Cr via its SME IPO last year. The company’s shares have zoomed over 71% from their listing price of INR 92.

On the financial front, the company reported a net profit of INR 2.61 Cr in FY25 as against a profit of INR 2.15 Cr in the previous fiscal year. Operating revenue zoomed 35% to INR 239.41 Cr from INR 178.05 Cr in FY24.

Shares of Macobs ended today’s trading session 6.12% lower at INR 164.25.

The post Menhood Seeks Shareholders’ Nod To Raise INR 42 Cr Via Preferential Issue appeared first on Inc42 Media.

Loving Newspoint? Download the app now