Marble City India Limited has formally announced the resignation of its Chief Financial Officer and Key Managerial Personnel, Ms. Shivi Sharma, effective March 20, 2026. The company communicated this development to BSE Limited on April 1, 2026, in compliance with regulatory requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation Details and Timeline

Ms. Shivi Sharma tendered her resignation citing personal and professional reasons. The resignation became effective from the close of business hours on March 20, 2026. The company received the resignation through an email communication from Ms. Sharma on March 20, 2026, at 5:45 PM, followed by a formal resignation letter.

Management Response and Acknowledgment

The company has placed on record its deep appreciation for the services rendered by Ms. Shivi Sharma and her contributions during her tenure as CFO. The management made efforts to retain her services, attempting negotiations until March 31, 2026. However, due to her personal reasons, Ms. Sharma decided not to continue with the company.

Marble City India Limited acknowledged a delay in disclosing the resignation to the stock exchange. The company explained that the delay occurred because they initially received only an email notification and spent time attempting to negotiate with the departing CFO. The management has expressed regret for the delay and committed to making best endeavors to avoid similar delays in future disclosures.

Regulatory Compliance and Next Steps

The company has fulfilled its disclosure obligations pursuant to Regulation 30 of SEBI LODR Regulations, read with SEBI master circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. Ms. Shivi Sharma has confirmed that there are no material reasons for her resignation beyond those mentioned in her resignation letter.

Marble City India Limited is currently in the process of appointing a suitable candidate for the CFO position. The company has committed to informing the stock exchanges about the new appointment in accordance with applicable regulations once the selection process is completed.

Marble City India Limited has successfully converted 6,45,101 warrants into an equal number of equity shares, marking a significant capital expansion for the company. The Board of Directors approved this conversion during their meeting held on March 03, 2026, which commenced at 05:00 P.M. and concluded at 5:30 P.M.

Warrant Conversion Details

The conversion involved 6,45,101 warrants being transformed into equity shares at an issue price of Rs. 17.00 each, including a premium of Rs. 12.00 per share. The company received a balance amount totaling Rs. 82,25,000 from the allottees at the rate of Rs. 12.75 per warrant, representing 75% of the issue price per warrant.

Promoter Participation

The conversion was executed on a preferential basis to promoters category. Two key promoters participated in this warrant conversion exercise:

Impact on Share Capital

Following the warrant conversion, Marble City India Limited's capital structure has been strengthened significantly. The company's issued and paid-up capital now stands at Rs. 12,75,75,540, comprising 2,55,15,108 equity shares of Rs. 5.00 each. The newly allotted equity shares will rank pari-passu with the existing equity shares of the company.

Shareholding Changes

The conversion has resulted in changes to the promoters' shareholding positions:

Background and Compliance

The warrants were originally allotted on September 10, 2024, carrying the right to subscribe to one equity share per warrant. The conversion process was conducted in accordance with the provisions of SEBI (ICDR) Regulations, 2018, and under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The exercise represents the completion of the warrant conversion process, with no warrants remaining pending for conversion from the participating promoters.