Marathon Nextgen Realty Limited has informed the Exchange about Release of Non Disposal Undertaking and update on Shareholding.
MARATHON · price
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On the reaction day the stock moved 2.3 pts less than Nifty Microcap 250 and 1.7 pts less than its Residential Commercial Projects peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Piramal Trusteeship Services Private Limited has released the Non-Disposal Undertaking (NDU) that was executed by Marathon Realty Private Limited over its shares in Marathon Nextgen Realty Limited. This NDU was linked to a loan facility, and its release means the shares are no longer restricted from being sold or transferred. The company also shared the updated shareholding pattern post the recent QIP (Qualified Institutions Placement). Promoter and Promoter Group hold 3,77,02,556 shares (55.92%), while the public holds 2,97,17,990 shares (44.08%), out of a total of 6,74,20,546 shares.
The release of the NDU removes a restriction on the promoter entity's shares, giving them more flexibility to deal with their holdings, which could increase the supply of shares in the market. Promoters remain comfortably above the 50% threshold at 55.92%, indicating continued majority control.