Preferential Issue
Price
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Marg Techno Projects Ltd has allotted 14,00,000 equity shares on a preferential basis at Rs. 50 per share, which includes a Rs. 40 premium over the face value of Rs. 10. This raised Rs. 7 crore in total. The shares were allotted to 4 investors — two promoters (Akhil Nair and Arun Madhavan Nair, 4 lakh shares each) and two non-promoters (Shashwat Shrikhande and Saurabh Gupta, 3 lakh shares each). This allotment is part of a larger approved preferential issue of 42,00,000 shares, meaning 28,00,000 shares are still pending allotment in future tranches. The funds will be utilised as per the object approved by shareholders at the AGM.
The Rs. 7 crore capital infusion strengthens the company's balance sheet, and promoter participation signals insider confidence. However, existing shareholders will face equity dilution, with further dilution likely when the remaining 28 lakh shares are allotted in future tranches.