Markolines Pavement Technologies Limited has announced securing work orders worth ₹29.38 crore from the Sports Authority of Andhra Pradesh, as disclosed in its regulatory filing under SEBI (LODR) Regulations, 2015. The comprehensive contract encompasses multiple sports infrastructure development projects across Andhra Pradesh.

Project Details and Contract Breakdown

The work orders comprise two distinct sports infrastructure projects with specific timelines and locations:

Project Specifications

The first project involves development and upgradation of Indira Gandhi Municipal Corporation Stadium in Vijaywada, valued at ₹16.95 crore. The second project covers construction of an indoor hall at Pathrunivalasa, District Srikakulam, worth ₹12.42 crore.

Strategic Significance

This contract award represents a substantial addition to Markolines Pavement Technologies' order book and demonstrates the company's expertise in specialized sports infrastructure projects. The diversified nature of the projects, combining both renovation and new construction elements, showcases the company's versatility in handling different infrastructure development requirements.

The successful bid highlights the company's competitive positioning in the sports infrastructure segment and reflects confidence from state government authorities in its project execution capabilities. Both contracts are domestic in nature with no related party transactions involved, as confirmed in the regulatory disclosure.

Markolines Pavement Technologies Limited has issued multiple clarifications to stock exchanges regarding errors in its board meeting outcome dated 6th March 2026. The corrections pertain to the company's scheme of amalgamation with Markolines Infra Limited.

Share Exchange Ratio Correction

The company first acknowledged that due to an inadvertent clerical error during the preparation and filing of the board meeting outcome, incorrect share exchange ratio information was submitted to the exchanges.

The company explained that the erroneous ratio of 1:1.15 pertained to an earlier scheme that was filed previously. This incorrect ratio was mistakenly reproduced in the outcome filed with the stock exchanges on 6th March 2026.

Merchant Banker Details Clarification

In a subsequent update on 27th March 2026, the company issued another clarification regarding incorrect merchant banker details mentioned in the same board meeting outcome. The company confirmed that it has submitted the scheme application to both exchanges as per requirements.

Sobhagya Capital Options Private Limited has issued the fairness opinion stating that the share exchange ratio is fair from a financial point of view. The name of Aftertrade Broking Private Limited, which pertains to an earlier submission, was inadvertently mentioned in place of Sobhagya Capital Options Private Limited.

Regulatory Compliance

Both clarifications were submitted under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has requested both exchanges to take the corrected information on record and treat the communications as official clarifications and rectifications to the original board meeting outcome dated 6th March 2026.

The latest clarification letter was digitally signed by Sanjay Patil, Managing Director of Markolines Pavement Technologies Limited, and submitted to the exchanges on 27th March 2026.