Manoj Jewellers Board Approves Rights Issue of Up to INR 180 Million

CHENNAI, INDIA — June 24, 2026 — Manoj Jewellers Limited (BSE: MNOJ.BO) announced today that its Board of Directors has formally approved a proposal to raise capital through the issuance of fresh equity shares via a rights issue. The fund-raising initiative, valued at up to 180 million Indian rupees (INR 18 crore), was finalized during a pivotal board assembly held at the company’s corporate headquarters.

This corporate action follows a significant phase of financial growth for the jewelry manufacturer and retail brand. The newly authorized capital deployment aims to support the company’s retail footprint expansion and optimize downstream supply chain working capital while strengthening its liquid balance sheet infrastructure.

Detailed Evaluation of Capital Deployment and Leadership Structural Upgrades

The equity allocation strategy will offer fresh equity shares directly to the company's eligible historical stakeholders as of a yet-to-be-announced record date. According to the statutory documentation filed with domestic bourses, the strategic framework underpins a broader operational transition designed to accelerate growth across key digital and physical sales outlets.

The board meeting also concluded two vital administrative items directly affecting operational management:

• CFO Appointment: The company formally confirmed the appointment of Mr. Sunil Shantilal as the new Chief Financial Officer (CFO), filling a critical executive gap.

• Predecessor Transition: The transition follows the resignation of the former financial head, Mr. Mayank Girishbhai Garach, who stepped down earlier this month on June 4 due to ongoing personal health concerns.

To protect public equity markets from speculative volatility or asymmetric info sharing, Manoj Jewellers closed its internal corporate trading window starting June 19, 2026. In obedience to strict protocols enforced by the Securities and Exchange Board of India (SEBI), trading access for active insiders, directors, and immediate relative networks will resume 48 hours post-announcement.

Sector Context and Strategic Operational Outlook

Manoj Jewellers specializes in traditional retail, wholesale distribution, and online storefront avenues for gold, silver, and diamond jewelry variants out of its primary base in Chennai's prominent Sowcarpet sector. The brand recently reported an annual profit after tax (PAT) surge to INR 90.24 million for the financial year ended March 31, 2026, on the back of total income doubling year-over-year.

The decision to choose a rights issue structure allows current public market participants to defend their underlying equity percentage against institutional dilution while accessing new company shares at an equitable baseline. Market analysts believe that the cash influx will allow Manoj Jewellers to aggressively expand inventory volumes ahead of the upcoming festival season, navigating continuous bullion price swings.

Official Sources Section

The execution parameters of this corporate fundraise were declared through structured legal filings transmitted directly to regional public market supervisors. The framework of this disclosure was registered via the corporate action desk of BSE Limited under prescribed listing compliance parameters.

Quote Section

"According to officials familiar with the regulatory filing, the newly approved rights issue represents a deliberate corporate move to lock in operational capital without taking on high-interest commercial bank debt, prioritizing existing retail share owners before expanding external float."

Why It Matters

For general retail investors and market observers, this equity move indicates long-term growth positioning. By picking a rights pathway, the firm preserves equity integrity for current stakeholders while securing needed operational runway. For customers and supply chains, this capitalization protects store networks against jewelry market raw-material spikes.

Key Facts at a Glance

• Maximum Raising Capital: Up to INR 180 million (INR 18 crore) via equity shares.

• Corporate Action Format: Pro-rata rights issue dedicated exclusively to existing shareholders.

• New Financial Leadership: Appointment of Mr. Sunil Shantilal as the new Chief Financial Officer.

• Trading Window Resumption: Reopening to designated corporate insiders 48 hours after today's board meeting conclusion.

FAQ Section

What exactly is a rights issue of equity shares?

A rights issue gives existing shareholders the specific privilege to buy newly issued company shares, usually at a discounted price relative to current public trading market values, directly proportional to their existing equity holdings.

How will Manoj Jewellers utilize the newly raised INR 180 million?

The firm plans to deploy the proceeds toward operational expansion, building up core gold and precious stone inventory, and general corporate purposes to support long-term growth metrics.

Who is eligible to participate in this upcoming corporate offer?

All equity owners whose names appear in the company's official share repository on the upcoming record date will automatically receive Rights Entitlements (REs) credited to their demat accounts.

Source: BSE Limited, Securities and Exchange Board of India, Manoj Jewellers Investor Compliance Hub.