Manaksia Coated Metals & Industries Limited (NSE: MANAKCOAT, BSE: 539046), A leading manufacturer and exporter of high-quality coated metal products, has announced the approval of a preferential warrant issue to raise ₹134.55 crore. The board of directors approved the issuance of 2,07,00,000 warrants at ₹65 per warrant during its meeting on December 02, 2024. This move will support the company’s ambitious plans for capacity expansion and a major technology upgrade.Commenting on this achievement Mr. Karan Agrawal Whole Time Director, Manaksia Coated Metals & Industries Limited said, ” We are pleased to announce the approval of the preferential equity warrant issue, which will play a pivotal role in driving our growth and operational improvements. The funds raised will enable us to significantly expand our production capacity, particularly in Alu-Zinc, which will allow us to cater to the growing demand in the market more efficiently. This expansion will also streamline our operations, improve profitability, and ensure that we continue to deliver high-quality products to our customers.The funds raised will be utilized to undertake a technology upgrade project whereby the company will be transitioning to production capability of making Alu-Zinc Costed Steel products. Th production capacity will be enhanced from 132,000 MTPA to 180,000MTPA enabling a 36% increase in output and corresponding revenue. The CAPEX being planned by the company also includes a forward integration project whereby the company would be investing in a new and state of the art steel coil coating line which would catapult the capacity of Pre-painted Steel from 86,000MTPA to 236,000MTPA. Additionally, a portion will be allocated to optimize the working capital cycle and establish a captive solar power plant in a phased manner, reflecting the company’s commitment to sustainable and energy-efficient practices.This strategic move will benefit the company by moving to a more value added and premium product enabling higher margins along with significant growth in production capacity. With the expanded capacity and focus on energy efficiency, the company aims to better meet increasing market demand while reducing its carbon footprint.