MM Forgings’ Board approves fundraising plan

The Board of MM Forgings decided on Wednesday that the company will raise funding of an amount not exceeding ₹600 crore by way of issue of equity shares through any permissible mode. The board noted that the proposed fundraising is in the nature of an enabling approval.

“The timing, size and structure of the issue will be determined by the board, taking into consideration factors such as pricing, dilution and prevailing equity market conditions, including market volatility,” the company said.

Subject to the approval of the shareholders, the board also approved and recommended an increase in the authorized share capital of the company from ₹51 crore divided into 5,10,00,000 equity shares of ₹10 each to ₹61 crore comprising 6,10,00,000 equity shares of ₹10 each and consequent amendment to the memorandum of association of the company.

The shares of MM Forgings closed the trading day at ₹421.25, up 1.29 per cent on the BSE.

Published on March 25, 2026