Marble City Limited approved the allotment of 30 lakh convertible warrants to its promoters at a price of ₹100 per warrant during its board meeting on September 17, 2026. The transaction raises ₹3 crore in subscription amount.

The allotment follows shareholder approval granted at the extraordinary general meeting held on June 10, 2026, and in-principle approval from BSE Limited dated September 9, 2026. The company received the initial 25% subscription amount, totaling ₹25 per warrant, as mandated by Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Allotment Details

The warrants are allotted on a preferential basis and rank pari-passu with existing equity shares. Each warrant carries a face value of ₹5 and includes a premium of ₹95.

Conversion Terms

Holders may exercise their option to convert each warrant into one fully paid-up equity share of face value ₹5 within 18 months from the date of allotment. This conversion requires payment of the remaining 75% of the issue price. Until conversion occurs, the paid-up share capital of the company remains unchanged.

The allotted warrants remain subject to the lock-in period prescribed under Chapter V of the SEBI (ICDR) Regulations, 2018. The board meeting commenced at 5:30 pm and concluded at 6:00 pm.

Salsett Vinimay Private Limited and its Persons Acting in Concert (PACs) acquired 2,250,000 shares of Marble City India Limited on September 10, 2026. The acquisition represents an 8.77% increase in voting rights, bringing the group’s total holding to 11.03% of the company’s equity share capital.

The transaction was executed through open market purchases. Prior to this acquisition, the group held 579,887 shares, constituting 2.26% of the total voting capital. The post-acquisition holding stands at 2,829,887 shares.

Acquisition Breakdown

The disclosure filed under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, details the distribution of shares among the acquirer and its PACs:

Salsett Vinimay Private Limited accounted for the majority of the new acquisitions, purchasing 2,200,000 shares. Vedant Kajaraia added 50,000 shares to his holding, while Rishi Kajaraia’s position remained unchanged.

What the Numbers Show

The acquisition was concentrated primarily in Salsett Vinimay Private Limited, which increased its individual stake from 389,887 to 2,589,887 shares. This single-entity purchase drove nearly 98% of the total block acquired by the group, indicating a strategic accumulation by the corporate entity rather than dispersed buying across all concert parties.

The company’s total equity share capital remained unchanged at 128,225,540 shares following the transaction. The acquirer confirmed it does not belong to the promoter or promoter group of Marble City India Limited.