Outcome of Board Meeting
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The Board of Marg Techno Projects Limited, at its meeting held on September 16, 2025, ratified the preferential issue of 42,00,000 equity shares at Rs. 50 per share (face value Rs. 10), raising a total of approximately Rs. 21 crore. The shares will be allotted to three promoters (25,00,000 shares) and seven non-promoters (17,00,000 shares). Promoters Akhil Nair and Arun Madhavan Nair are each subscribing to 10 lakh shares (Rs. 5 crore each), while non-promoters like Mansukhbhai Parejiya are taking 5.5 lakh shares. The Board also approved a corrigendum to correct an earlier error where borrowing powers were mentioned as Rs. 300 crore instead of Rs. 3,000 crore, a 10-fold increase. The meeting ran from 4:30 PM to 7:30 PM.
Shareholders will see dilution of about 42 lakh new shares, with promoters increasing their stake significantly. The corrected borrowing limit of Rs. 3,000 crore (up from Rs. 300 crore) signals the company's intent to raise substantial debt, which could fund major expansion but also increases financial risk.