Mumbai, September 15, 2020: MAN Industries (India) Limited, one of the leading Large Diameter Pipe manufacturing companies has announced at their board meeting today, that the company in pursuance of the performance of its obligations under the aforesaid Scheme of Arrangement (demerger), the Board of Directors of the Company has fixed the Record Date as on 25 th September ’2020 for the purpose of issuance of free shares by Man Infraprojects Ltd.(MIPL), in the ratio of 1:1 to all the shareholders of Man Industries (India) Ltd whose names will be appearing in the list of shareholders as on Record Date, i.e. 25 th September’2020.
ABOUT MAN GROUP
Man Industries (India) Ltd. is the flagship company of Man Group, promoted by the Mansukhani family in 1970. The Company is a part of the well diversified MAN Group, growing under the dynamic leadership of Dr. R. C. Mansukhani. Starting as an Aluminium Extruder in 1988, MAN Industries has now become one of the largest players in LSAW Pipes, Spirally Welded Pipes and Coating Systems.
It has state of the art manufacturing facilities with the total combined capacity of 1 Million Metric Tonnes p.a for LSAW and HSAW Pipes and is dedicated to highest Operating and Quality standards, environment protection and Occupational Health & Safety Standards and is accredited by ISO-9001, ISO 14001 & OHSAS 18001 certification.
The shares of the Company are listed with Bombay Stock Exchange and National Stock Exchange. Man Industries (India) Limited has been a profit-making company since inception and also a consistent dividend paying company. The company holds an excellent track record of promptly meeting its financial obligations in a timely manner in the toughest market conditions.