Marg Techno-Projects promoters experienced a significant dilution in their aggregate shareholding, which fell from 48.35% to 29.28%, following the completion of a rights issue. The disclosure, filed with BSE Limited and Metropolitan Stock Exchange of India Limited (MSE) on August 04, 2026, clarifies that the reduction in percentage holding is solely due to the increase in the company’s total paid-up equity share capital and does not represent any sale, transfer, or disposal of shares by the promoter group.

The allotment of equity shares on a rights basis was credited to shareholders on July 31, 2026. Prior to the issue, the company’s paid-up equity share capital stood at 1,42,00,000 equity shares of face value of Rs. 10/- each. Post-allotment, the capital increased to 7,81,00,000 equity shares of the same face value. The rights issue was conducted at an issue price of Rs. 10.00/- per share.

Akhil Nair, a promoter, submitted the disclosure on behalf of himself and other promoters acting in concert: Arun Madhavan Nair, Madhavan Kakkat Nair, Dhananjay Kakkat Nair, and Reema Madhavan Nair. The filing confirms that none of the promoters encumbered their newly acquired shares through pledge or lien.

Change in Promoter Shareholding

The table below details the shift in individual and aggregate holdings before and after the rights issue allotment:

Three promoters—Arun Madhavan Nair, Akhil Nair, and Madhavan Kakkat Nair—participated in the rights issue, acquiring a combined 1,60,00,000 shares. Dhananjay Kakkat Nair and Reema Madhavan Nair did not subscribe to the new allotment, resulting in a more pronounced percentage dilution for their respective holdings.

What the Numbers Show

The substantial drop in promoter percentage ownership—from nearly half the company to less than a third—highlights the magnitude of the capital raise relative to the pre-issue base. While the absolute number of shares held by the active promoters increased significantly, the expansion of the total share pool to 7,81,00,000 shares reduced their proportional control. This structural change is typical of large-scale rights issues aimed at raising capital without altering the relative economic interest of participating promoters versus non-participating public shareholders, though it does lower the overall promoter group concentration.

marg techno projects completed its rights issue with a total subscription of 105.80%, receiving valid applications for 67,607,176 equity shares against an issue size of 63,900,000 shares. The non-systemically important non-deposit taking non-banking finance company (NSI-ND-NBFC) approved the allotment of 63,690,000 shares to successful applicants on July 29, 2026, marking the conclusion of a capital raise aggregating up to ₹ 6390.00 lakh. Trading of the newly allotted shares is scheduled to begin on Monday, August 03, 2026, on both BSE and MSE platforms.

The rights issue opened for subscription on June 29, 2026, and closed on July 29, 2026, offering shares at par value of ₹10 each in a ratio of 9:2 to eligible shareholders as of the record date, June 20, 2026. Out of 1,019 total applications received, 428 were rejected due to technical reasons, leaving 588 valid applications. The allotment process was finalized in consultation with MCS Share Transfer Agent Limited, the registrar to the issue, and BSE Limited.

Allotment Breakdown

The distribution of allotted shares reveals significant participation from both existing shareholders exercising their rights and renouncees acquiring entitlements in the market. Eligible equity shareholders applied for 26,133,042 shares, while renouncees applied for 41,474,134 shares.

Renounees accounted for 59.10% of the total shares allotted, indicating strong secondary market interest in the rights entitlements prior to the closing date. The last date for on-market renunciation of Rights Entitlements was Wednesday, July 22, 2026.

Regulatory Compliance and Listing

In compliance with Regulation 92 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company published newspaper clippings detailing the basis of allotment. The listing applications were filed with BSE on July 29, 2026, and with MSE on July 30, 2026, with approvals received from both exchanges on July 30, 2026. Credit of the shares to demat accounts via CDSL and NSDL was completed on July 31, 2026.

Further, in accordance with SEBI circular SEBI/HO/CFD/-PoD-1/P/CIR/2025/31 dated March 11, 2025, the request for extinguishment of Rights Entitlements has been sent to the depositories. Investors are advised that the Rights Equity Shares will be traded under the same ISIN as Equity Shares (INE245H01018) and can only be traded in dematerialized form.