Corrigendum to Outcome of Board Meeting Dated 30th August, 2025
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Marg Techno Projects has filed a corrigendum to correct typographical errors in the names of proposed allottees from its 30th August 2025 board meeting outcome. The board had approved a preferential issue of 42,00,000 equity shares at Rs. 50 per share (face value Rs. 10), raising approximately Rs. 21 crore. Promoters Akhil Nair and Arun Madhavan Nair will subscribe to 30 lakh shares (Rs. 15 crore), while non-promoters Vrutika Siyani, Sumita Mishra, and Satyajit Mishra will take up the remaining 12 lakh shares (Rs. 6 crore). To accommodate this issue, the company plans to increase its authorized capital from Rs. 11 crore to Rs. 30 crore. The board also approved the appointment of Mr. Jitendra Bhagat as secretarial auditor for five years (FY 2025-26 to 2029-30), approved the Board's Report and Secretarial Audit Report, and fixed the 32nd AGM for 30th September 2025 via video conferencing.
The Rs. 21 crore preferential allotment will dilute existing shareholders by roughly 42% on a fully expanded basis. Promoter participation of about Rs. 15 crore signals insider confidence, though retail investors should note the issue price (Rs. 50) is well above face value (Rs. 10) and was derived per SEBI pricing norms.