Markolines Pavement Technologies Limited has informed the Exchange regarding Outcome of Board Meeting held on March 06, 2026.
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The Board of Markolines Pavement Technologies Limited approved a scheme to merge Markolines Infra Limited (its group company) into itself under Sections 230–232 of the Companies Act, 2013. Markolines Infra, a highway operations and maintenance (O&M) firm handling 25 toll plazas and over 42,900 lane-kilometres across 16 states, will be absorbed into the listed entity. The share exchange ratio has been fixed at 1:1.15, meaning every one share held in Markolines Infra will entitle the holder to 1.15 shares of Markolines Pavement Technologies, with no cash consideration involved. As on 31 December 2025, Markolines Infra had total assets of Rs. 10,810 lakhs and turnover of Rs. 10,411 lakhs, while Markolines Pavement Technologies had total assets of Rs. 29,411 lakhs and turnover of Rs. 24,334 lakhs. The Appointed Date is 1 January 2026, and the scheme also designates NSE as the Designated Stock Exchange. The merger is a related-party transaction, though exempted from Section 188 requirements, and is subject to NCLT, SEBI, and stock exchange approvals.
The merger will make Markolines Pavement Technologies the only listed company offering the full spectrum of highway services—from construction and rehabilitation to toll operations and routine maintenance. Existing shareholders of Markolines Pavement Technologies will face dilution as new shares are issued to Markolines Infra shareholders, while the share swap should be broadly neutral for Markolines Infra shareholders. Near-term stock reaction is likely muted until NCLT and SEBI approvals are obtained, but the deal strengthens the company's scale and competitive position in the highway infrastructure space.