Man Industries shares tumble 16% on SEBI ban; all you need to know
By 11:37 am, the stock was trading 11.33 per cent lower at Rs 360.25. The stock is still 75 per cent above its 52-week low of Rs 201.45.
- Sep 30, 2025,
- Updated Sep 30, 2025 11:47 AM IST
Shares of Man Industries (India) Ltd plunged 16 per cent in Tuesday’s trade after the Securities and Exchange Board of India (SEBI) disposed of long-pending legacy matters, imposed penalties, and barred key executives from accessing the securities market for two years.
On Tuesday, Man Industries shares fell as much as 16 per cent to touch a day’s low of Rs 340.90 on the BSE, down from Monday’s close of Rs 406.30. By 11:37 am, the stock was trading 11.33 per cent lower at Rs 360.25. The stock is still 75 per cent above its 52-week low of Rs 201.45.
The regulatory filing to the stock exchanges said SEBI’s order, dated September 29, 2025, levied a penalty of Rs 25 lakh on the company and Rs 25 lakh each on three noticees — Ramesh Mansukhani (Chairman & Director), Nikhil Mansukhani (Managing Director) and Ashok Gupta (Ex-Chief Financial Officer). The filing added that “SEBI has restrained the above-mentioned noticees from accessing the securities market for a period of two years from the date of the order.”
Company documents describe the matters as legacy issues for FY2015–FY2021, arising mainly from the “non-consolidation of financial statements with Merino Shelters Private Limited (‘MSPL’) and other procedural matters.” The disclosure said the firm would examine the order in detail and “will seek appropriate legal remedies available against the said order.”
In a separate press release filed alongside the SEBI disclosure, Man Industries sought to calm investors, calling the penalty “not material to our business operations and financial health” and stressing that there is “No restriction on the trading of company’s shares by investors.” The company said the SEBI directions only restrain the company and the named individuals from trading in other companies’ shares for two years — an activity it says is not part of its ordinary course of business.
To underscore the operational defence, the company highlighted a record order book of about Rs 4,700 crore, ongoing capex slated for completion by Q4 FY26, and proceeds from an MSPL asset sale — a partial inflow of Rs 70 crore with Rs 650–700 crore receivable over the next five-to-six years.
Shares of Man Industries (India) Ltd plunged 16 per cent in Tuesday’s trade after the Securities and Exchange Board of India (SEBI) disposed of long-pending legacy matters, imposed penalties, and barred key executives from accessing the securities market for two years.
On Tuesday, Man Industries shares fell as much as 16 per cent to touch a day’s low of Rs 340.90 on the BSE, down from Monday’s close of Rs 406.30. By 11:37 am, the stock was trading 11.33 per cent lower at Rs 360.25. The stock is still 75 per cent above its 52-week low of Rs 201.45.
The regulatory filing to the stock exchanges said SEBI’s order, dated September 29, 2025, levied a penalty of Rs 25 lakh on the company and Rs 25 lakh each on three noticees — Ramesh Mansukhani (Chairman & Director), Nikhil Mansukhani (Managing Director) and Ashok Gupta (Ex-Chief Financial Officer). The filing added that “SEBI has restrained the above-mentioned noticees from accessing the securities market for a period of two years from the date of the order.”
Company documents describe the matters as legacy issues for FY2015–FY2021, arising mainly from the “non-consolidation of financial statements with Merino Shelters Private Limited (‘MSPL’) and other procedural matters.” The disclosure said the firm would examine the order in detail and “will seek appropriate legal remedies available against the said order.”
In a separate press release filed alongside the SEBI disclosure, Man Industries sought to calm investors, calling the penalty “not material to our business operations and financial health” and stressing that there is “No restriction on the trading of company’s shares by investors.” The company said the SEBI directions only restrain the company and the named individuals from trading in other companies’ shares for two years — an activity it says is not part of its ordinary course of business.
To underscore the operational defence, the company highlighted a record order book of about Rs 4,700 crore, ongoing capex slated for completion by Q4 FY26, and proceeds from an MSPL asset sale — a partial inflow of Rs 70 crore with Rs 650–700 crore receivable over the next five-to-six years.