Outcome of Board Meeting dated 10.02.2026 for conversion of 4,70,587 warrants to equity shares allotted to Promoter Group.
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The board of Marble City India Ltd approved the conversion of 4,70,587 warrants into an equal number of equity shares at Rs. 17/- per share (including a Rs. 12/- premium) on a preferential basis to the promoter group, comprising Saket Dalmia and Amit Dalmia. The company received the balance 75% amount of Rs. 59,99,985/- (Rs. 12.75 per warrant); the initial 25% (Rs. 4.25 per warrant) had already been paid when the warrants were allotted in September 2024. Following this conversion, the company's paid-up equity capital rises to Rs. 12.43 crore, consisting of 2,48,70,007 equity shares of Rs. 5/- each. The newly allotted shares will rank pari-passu with existing equity shares.
This is a pre-committed dilution of roughly 1.9% for existing shareholders, with promoter shareholding increasing accordingly. Since the warrants were issued in September 2024, the conversion was largely anticipated and may have a limited negative impact on the stock price, though it signals continued promoter confidence and capital infusion into the company.