Revised Intimation regarding Utilization of Funds of Preferential issue of Rs. 21 Crores under Regulation 30 of the SEBI (LODR) Regulation
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Marg Techno Projects has updated BSE on how it plans to use the Rs. 21 crore it raised through a preferential issue. The company says the funds will be deployed across multiple purposes: expanding its core business, meeting working capital needs, repaying loans, paying tax dues, and other general corporate expenses. It also plans to invest a portion in the securities market and extend loans or advances, settle outstanding dues, and purchase machinery, raw materials, computers, software, air conditioners, and safety equipment. This is a revised intimation, meaning the company is clarifying or correcting earlier disclosures made on the preferential issue. The filing is made under SEBI listing regulations to keep the exchange and investors informed.
For shareholders, this filing is an informational update rather than a new event — no fresh capital is being raised and the company is simply restating previously disclosed fund-use plans. The broad and somewhat vague use of proceeds (including investment in securities and lending) gives the management significant flexibility, which investors should monitor for execution.