MTPL Board Approves ₹15.00 Cr Capital Increase, ₹65.00 Cr Rights Issue and CFO Changes
Marg Techno-Projects Limited concluded its board meeting on March 20, 2026, approving major corporate restructuring initiatives including authorized capital increase to ₹45.00 crores, ₹65.00 crore rights issue for existing shareholders, CFO transition with Mr. Arun Madhavan Nair's appointment replacing Mrs. Chhayaba Balbhadrasinh Dodiya, addition of new business objects in fintech and digital payment services, remuneration increases for key management personnel, and scheduling of Extraordinary General Meeting on April 17, 2026 for shareholder approvals.
*this image is generated using AI for illustrative purposes only.
Marg Techno-Projects Limited has successfully concluded its board meeting held on March 20, 2026, approving significant corporate restructuring initiatives including capital enhancement and fund raising activities. The meeting, which commenced at 4:00 PM and concluded at 6:00 PM at the company's registered office, addressed multiple strategic decisions that will shape the company's future growth trajectory.
Capital Structure Enhancement
The board has approved a substantial increase in the company's authorized share capital from ₹30.00 crores to ₹45.00 crores, demonstrating confidence in future expansion plans.
| Parameter: | Current Structure | Proposed Structure |
|---|---|---|
| Authorized Capital: | ₹30.00 crores | ₹45.00 crores |
| Number of Shares: | 3.00 crores | 4.50 crores |
| Face Value per Share: | ₹10.00 | ₹10.00 |
| Additional Shares Created: | - | 1.50 crores |
The increase will facilitate future fund raising activities through equity share issuance by creating additional 1.50 crores equity shares of ₹10.00 each, subject to shareholder approval.
Rights Issue Approval
The board has approved a comprehensive fund raising initiative through rights issue worth up to ₹65.00 crores, providing existing shareholders with preferential investment opportunities.
| Rights Issue Details: | Specifications |
|---|---|
| Issue Size: | Up to ₹65.00 crores |
| Security Type: | Equity shares of ₹10.00 face value |
| Issue Method: | Rights basis to eligible shareholders |
| Regulatory Framework: | Section 62(1)(a) of Companies Act, 2013 |
| SEBI Compliance: | Issue of Capital and Disclosure Requirements Regulations, 2018 |
The rights issue will be offered to eligible equity shareholders as on the record date, which will be notified subsequently, subject to receipt of necessary regulatory and statutory approvals.
Leadership Transition
The board has implemented significant changes in the Chief Financial Officer position, ensuring continuity in financial leadership through simultaneous resignation and appointment.
New CFO Appointment
| CFO Details: | Information |
|---|---|
| Name: | Mr. Arun Madhavan Nair |
| Effective Date: | March 20, 2026 |
| Educational Background: | B.Sc MA degree, Company Secretary Foundation |
| Experience: | 8 years in NBFC Sector, IT Sector experience |
| Relationship: | Brother of Managing Director Akhil Nair |
| Additional Role: | Also serves as Whole-Time Director |
CFO Resignation
Mrs. Chhayaba Balbhadrasinh Dodiya resigned from the Chief Financial Officer position with effect from close of business hours on March 20, 2026, citing personal reasons. She confirmed that there are no other material reasons for her resignation beyond those mentioned.
Business Expansion and Governance
The board approved several strategic initiatives including alterations to the Memorandum of Association and remuneration adjustments for key management personnel.
New Business Objects
The board approved adding three new business objects under "matters which are necessary for furtherance of the objects" in the Memorandum of Association:
| Business Area: | Description |
|---|---|
| BBPOU Services: | Bharat Bill Payment Operating Unit under BBPS framework |
| Fintech Platform: | Development of financial technology solutions |
| Digital Infrastructure: | Payment and collection services infrastructure |
Remuneration Increases
The board approved increased remuneration for key management personnel, subject to shareholder approval:
- Mr. Akhil Nair (Managing Director)
- Mr. Arun Madhavan Nair (Whole-Time Director)
- Mr. Dhananjayan Kakkat Nair (Whole-Time Director)
Extraordinary General Meeting
To obtain necessary shareholder approvals for the proposed resolutions, the board has scheduled an Extraordinary General Meeting.
| EGM Details: | Information |
|---|---|
| Meeting Date: | Friday, April 17, 2026 |
| Meeting Time: | 11:00 AM |
| Venue: | Registered Office of the Company |
| Scrutinizer: | M/s. Bhagat Associates, Practicing Company Secretaries |
| Scrutinizer Credentials: | FCS: 3032 and CP. No. 1311 |
The company has appointed M/s. Bhagat Associates as scrutinizer to ensure fair and transparent remote e-voting process for the EGM proceedings.
Regulatory Compliance
All announcements have been made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has formally notified BSE Limited and Metropolitan Stock Exchange of India Limited about the board meeting outcomes and scheduled EGM, ensuring full regulatory compliance.
Historical Stock Returns for Marg Techno Projects
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -7.76% | +18.79% | +3.46% | -37.43% | -3.59% | +528.14% |
20
Create Custom Screeners 
Access 200+ Pre-built Filters 
Use 50+ Readymade Screener 
