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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board of Marg Techno Projects approved the allotment of 14 lakh equity shares on a preferential basis at Rs. 50 per share (which includes Rs. 40 as premium), raising a total of Rs. 7 crore. Out of the originally approved 42 lakh shares, only 14 lakh were allotted in this round. The shares were given to two promoters — Akhil Nair and Arun Madhavan Nair (4 lakh shares each, totaling Rs. 4 crore) — and two non-promoters — Shashwat Shrikhande and Saurabh Gupta (3 lakh shares each, totaling Rs. 3 crore). The statutory auditor has confirmed receipt of the full subscription money. The company will use the funds for the purpose already approved by shareholders at the AGM and has applied to BSE and MSE for listing approval of the new shares.
This preferential issue will dilute existing shareholders by adding 14 lakh new shares. Promoters are putting in additional money of Rs. 4 crore, which is generally seen as a confidence signal, while the company raises fresh capital for its stated business objectives.