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Marg Techno Projects has issued a corrigendum to the notice of its 32nd AGM scheduled for September 30, 2025 at 11:00 AM via video conferencing. The main corrections include: (1) A typographical error where the borrowing limit under Section 180(1)(c) was stated as Rs. 300 Crores but should read Rs. 3,000 Crores — a tenfold upward correction. (2) The list of proposed allottees under the preferential issue (Resolution No. 8) was expanded from 5 to 10 persons, adding one new promoter (Madhavan Kakkat Nair) and four new non-promoters, while reducing shares to existing promoter Akhil Nair (from 20 lakh to 10 lakh) and Vrutika Siyani. The revised preferential issue totals 42,00,000 shares at Rs. 50 each (Rs. 21 Crores from present issue, plus a Rs. 900 Crore QIP and Rs. 270 Crore loan conversion). (3) Post-issue shareholding pattern corrected to show promoter holding rising from 43.66% to 48.35%, and public holding from 56.34% to 51.65%. (4) Detailed use-of-funds for the preferential issue provided across working capital, technology, machinery, loan repayment, and acquisitions.
Shareholders should note the corrected borrowing limit is a substantive change (Rs. 3,000 Cr vs Rs. 300 Cr) that materially expands the board's borrowing powers and warrants attention at the AGM. The expanded promoter group and revised allotment list slightly increase promoter concentration post-issue, though management states no single allottee exceeds 5% post-issue.