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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Marg Techno Projects held its 11th board meeting on March 20, 2026 and approved multiple major items. The board cleared raising the authorised share capital from Rs.30 crore to Rs.45 crore by creating an additional 1.5 crore equity shares of Rs.10 each. It also approved a rights issue of equity shares of Rs.10 face value for an aggregate amount of up to Rs.65 crore, to be offered to existing eligible shareholders. Mr. Arun Madhavan Nair, currently a Whole-Time Director and brother of Managing Director Akhil Nair, was appointed as the new Chief Financial Officer, replacing Mrs. Chhayaba Balbhadrasinh Dodiya who resigned due to personal reasons. The company also expanded the objects clause of its MoA to enter fintech, digital payments, BBPS/bill payments, and payment gateway businesses, and raised the remuneration of the MD and two Whole-Time Directors. An EGM has been called for April 17, 2026 to seek shareholder approval.
For shareholders, the Rs.65 crore rights issue is the most material item — existing investors will get the opportunity (and obligation) to put in more money, which will dilute those who don't subscribe. The authorised capital hike and shift in objects clause toward fintech and payments signal a strategic pivot away from the current business. The CFO change involves a related-party appointment (brother of the MD), which is worth scrutinising, though not unusual in closely-held firms.