Revised Intimation regarding Utilisation of Funds of Preferential Issue of Rs. 21 Crore under Regulation 30 of SEBI (LODR) Regulation
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Marg Techno Projects Ltd has filed a revised disclosure with BSE explaining how it plans to use the Rs. 21 crore raised via a preferential issue. Out of the total, Rs. 19 crore (about 90%) is earmarked for general purposes, including working capital, bank guarantees, loan repayment, tax obligations, investing in securities, and giving loans and advances. The remaining Rs. 2 crore will be used to buy machinery, raw materials, computers, software, air conditioners, and safety equipment. The filing is made under Regulation 30 of the SEBI Listing Regulations, and the word 'revised' suggests an earlier plan has been updated.
The heavy allocation of Rs. 19 crore toward broad, non-specific uses like working capital and general corporate purposes gives investors limited clarity on growth plans, which may raise questions about deployment strategy. However, the Rs. 2 crore for machinery and equipment signals some focus on operational capacity building.