Outcome of the board meeting approving Conversion of Convertible Warrants into equity shares of the Company.
MARKOLINES · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board of Markolines Pavement Technologies approved the conversion of 36,400 convertible warrants into equity shares at Rs.165 each (face value Rs.10), translating into a total subscription value of about Rs.60 lakh. These warrants were originally issued to promoter-group allottees, with 6 individuals/trust receiving the converted shares. The conversion was completed upon receipt of the full subscription amount as required by SEBI ICDR rules. The shares have been allotted to Binny Malav Shah, Jatin Sachdev, Jinesh Navnchandra Dhruv, SVAR Family Trust, Chintan Shah, and Shilpa Ojha.
This is a small, promoter-group capital infusion with minor dilution of around 36,400 shares. It signals promoter commitment and strengthens the equity base slightly, but is not large enough to materially affect the stock price.