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Marg Techno Projects held a board meeting on August 21, 2025 (4:30 PM to 8:10 PM) where it approved a sweeping set of proposals. The Board cleared taking loans up to Rs. 20 crore from promoters/directors/KMPs (convertible to equity later) and raising the company's borrowing limit to Rs. 300 crore. It also approved a Qualified Institutions Placement (QIP) of up to Rs. 1,000 crore, accepting Inter-Corporate Deposits/loans from corporates up to Rs. 500 crore, and making investments (equity, quasi-equity, loans, guarantees) up to Rs. 500 crore in NBFCs and other body corporates — effectively pivoting into an NBFC-like business model. Additional plans include forming a foreign subsidiary, considering a company name change starting with 'Amrutam', increasing managerial remuneration to Rs. 1 crore per annum, and converting Mr. Arun Madhavan Nair from Non-Executive to Executive Director. A further board meeting is scheduled for August 30, 2025 to consider a preferential issue.
The announcements point to aggressive expansion and a likely large equity dilution risk for existing shareholders given the massive fund-raising pipeline (QIP of up to Rs. 1,000 crore, Rs. 200 crore from HNIs, and conversion of Rs. 300 crore in loans). Share price could see volatility as the market digests the shift toward an NBFC-style lending model, significant new borrowings, and pending corporate actions like the name change and preferential issue.