Disclosure in relation to proposed scheme of merger
MARKOLINES · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
BSE has returned the draft scheme of amalgamation filed by Markolines Pavement Technologies Ltd, which proposed merging Markolines Infra Limited (transferor) into itself (transferee) under sections 230-232 of the Companies Act. The scheme was originally filed on 7th May 2025 and was sent back on 23rd September 2025. BSE flagged that after the merger, existing public shareholders of the listed company would hold only 23.08% on a fully diluted basis, which falls below the 25% minimum required by SEBI's June 2023 master circular for such schemes. The company has stated it is in the process of resubmitting the application once the compliance issue is addressed.
The merger is delayed, not cancelled. Shareholders should note that any restructuring that meaningfully dilutes public holding below 25% will face regulatory pushback; expect a revised scheme with adjusted share-swap ratios. Short-term, this introduces uncertainty around the consolidation timeline, but the company has signalled intent to refile.