Marg Techno Projects Limited has secured in-principle approval from BSE Limited and Metropolitan Stock Exchange of India Limited (MSEI) to proceed with a proposed rights issue of fully paid-up equity shares. The approvals allow the company to move forward with raising capital, subject to compliance with regulatory requirements and the completion of post-issue formalities. The Metropolitan Stock Exchange of India Limited has approved a total issue size of up to ₹65,00,00,000.

The company received the approval from BSE Limited via a letter bearing reference number LOD/RIGHT/KS/FIP/176/2026-27 dated May 05, 2026. This permission permits the company to use the exchange's name in its Letter of Offer and related advertisements, provided it includes the specific disclaimer clause mandated by the exchange. BSE stipulated that the company must fix a record date with at least three working days' advance notice and disclose the rights issue price at least three working days prior to that date.

Subsequently, the Metropolitan Stock Exchange of India Limited granted its in-principle approval on June 10, 2026, via reference number MSE/LIST/2026/725. This approval is specifically for a rights issue of equity shares with a face value of ₹[●] each, issued at a premium of ₹[●] per share. The ratio of the issue is yet to be determined, denoted as [●] rights equity shares for every [●] equity shares held by eligible shareholders on the record date.

Both exchanges have imposed strict conditions for the final approval. The company must obtain all statutory approvals from authorities including the Securities and Exchange Board of India (SEBI), the Reserve Bank of India (RBI), and the Ministry of Corporate Affairs (MCA). Compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, is mandatory. Additionally, the company must adhere to specific SEBI circulars dated August 19, 2019, and January 22, 2020.

The exchanges have reserved the right to withdraw the in-principle approval if any information provided by the company is found to be incomplete, incorrect, misleading, or false. Final listing and trading approval will be granted only after the company complies with all post-issue formalities, including the approval of the Basis of Allotment by the Designated Stock Exchange. Marg Techno Projects Limited remains solely responsible for the accuracy of disclosures in the offer documents and any consequences arising from non-compliance.

Key Approval Details

Marg Techno Projects reported a 140% increase in net profit to ₹99.19 lakh for the financial year ended March 31, 2026, compared to ₹41.33 lakh in the previous year. Revenue from operations rose 31% to ₹683.69 lakh, driven primarily by a 33% surge in interest income to ₹672.41 lakh. The company’s board approved the audited standalone financial results for the quarter and year ended March 31, 2026, during a meeting held on May 30, 2026.

For the quarter ended March 31, 2026, net profit stood at ₹81.30 lakh, a significant increase from ₹18.71 lakh in the corresponding period of the previous year. Total revenue for the quarter increased to ₹538.42 lakh from ₹190.40 lakh. Interest income for the quarter was ₹522.44 lakh, up from ₹191.52 lakh in the same period last year. The company’s earnings per share (EPS) for the year improved to ₹0.88 from ₹0.58 in the prior year.

Financial Performance

The company’s total assets grew to ₹6,235.62 lakh as of March 31, 2026, up from ₹3,526.85 lakh a year earlier. This increase was largely due to a rise in loans to ₹5,771.09 lakh from ₹3,254.65 lakh. Equity share capital increased to ₹1,420 lakh from ₹1,000 lakh, following the issuance of shares worth ₹2,100 lakh during the year. Borrowings stood at ₹2,695.59 lakh, compared to ₹2,209.42 lakh in the previous year.

Strategic Developments

The board authorized the management to evaluate the feasibility of entering the Buy Now Pay Later (BNPL) and short-term personal loan business segments on a pilot basis. This strategic move aims to explore new business expansion opportunities and assess regulatory requirements. The statutory auditors, Sheladiya & Jyani Chartered Accountants, issued an audit report with an unmodified opinion on the standalone financial results.

Disclosures

The company disclosed that its total financial indebtedness stands at ₹26.96 crore, with no outstanding defaults on loans or debt securities as of the filing date. The statement on the impact of audit qualifications was not applicable as the audit report was unmodified. The company also noted that it would ensure compliance with related party transaction regulations within six months as the threshold limits were exceeded during the financial year.