Outcome of Board Meeting
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board of Marg Techno Projects approved the allotment of 14,00,000 equity shares at Rs. 50 each (including Rs. 40 premium) on a preferential basis, raising Rs. 7 crore. The shares were allotted to 2 promoters (Akhil Nair and Arun Madhavan Nair, totaling 8,50,000 shares) and 4 non-promoters (5,50,000 shares collectively). This is the third tranche of a larger 42 lakh share preferential issue, with Tranche 1 (6 Dec) and Tranche 2 (9 Dec) already completed. The Statutory Auditor has confirmed receipt of the full subscription amount, and the funds will be used as per the objects approved by shareholders at the AGM.
This is a dilutive equity issuance, meaning existing shareholders' percentage stake will reduce as new shares are issued. However, the promoter group is participating substantially (8.5 lakh shares), showing promoter confidence and commitment of fresh capital into the company. Existing shareholders should expect some short-term price pressure while these shares get listed.