Outcome of Board Meeting dated 15.05.2026
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Marble City India's board approved raising funds via a preferential issue of up to 30,00,000 convertible warrants at Rs. 100 per warrant. Saket Dalmia and Amit Dalmia (both promoters) will each be allotted 15,00,000 warrants. Each warrant is convertible into one equity share within 18 months of allotment, at a price of Rs. 100 per share (including a Rs. 95 premium). On full conversion, each promoter will hold 4.97% of the fully diluted equity. The issue is subject to shareholder approval at an Extraordinary General Meeting (EGM), for which the cut-off date is 08th May 2026. A scrutinizer has been appointed for the e-voting process. The meeting lasted 45 minutes (4:30 PM to 5:15 PM).
This is a promoter-backed capital raise that will dilute existing shareholders by up to ~9.94% on a fully diluted basis. The warrants give promoters a relatively low-cost entry/exit mechanism, and the 18-month conversion window keeps equity overhang alive in the near term. Shareholders voting at the EGM will be the key gatekeeper.