Corrigendum to Outcome of Board Meeting Dt. 30th August, 2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Marg Techno Projects has issued a corrigendum to correct typographical errors in the names of proposed allottees for a preferential equity share issue approved at its 30 August 2025 board meeting. The board had approved issuing 42 lakh equity shares at Rs. 50 each (face value Rs. 10), raising about Rs. 21 crore. Promoters Akhil Nair and Arun Madhavan Nair will subscribe to 30 lakh shares, while non-promoters (Vrutika Siyani, Sumita Mishra, Satyajit Mishra) will take the remaining 12 lakh shares. The board also proposed increasing authorised capital from Rs. 11 crore to Rs. 30 crore to accommodate the issue, appointed Mr. Jitendra Bhagat as Secretarial Auditor for five years (FY2025-26 to FY2029-30), and fixed 30 September 2025 as the date for the 32nd AGM via video conferencing, with the record date cut-off set at 23 September 2025.
The preferential issue will dilute existing shareholders by roughly 42% (42 lakh new shares vs current paid-up capital of 1 crore shares) and bring about Rs. 21 crore into the company, with promoters significantly increasing their stake. Shareholders should watch for the detailed preferential issue price rationale and the upcoming AGM voting on the authorised capital increase.