Markolines Pavement Technologies Limited recently announced that its draft scheme of amalgamation with Markolines Infra Limited has been returned by the Bombay Stock Exchange (BSE) due to technical issues. The company disclosed this information in a regulatory filing on September 25, 2025, in compliance with SEBI regulations.

Merger Proposal Details

The draft scheme, originally submitted on May 7, 2025, proposed the merger of Markolines Infra Limited (Transferor Company) into Markolines Pavement Technologies Limited (Transferee Company). The application sought a No Objection Certificate (NOC) from the exchange, as required under Regulation 37 of the SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations.

BSE's Response and Next Steps

According to the company's disclosure, BSE returned the merger application on September 23, 2025, citing technical issues. The exact nature of these technical issues was not specified in the announcement.

Markolines Pavement Technologies Limited has stated that it is currently in the process of resubmitting the merger application to BSE. This move demonstrates the company's commitment to pursuing the proposed amalgamation despite the initial setback.

Management Statement

Sanjay Patil, Chairman & Managing Director of Markolines Pavement Technologies Limited, signed the regulatory filing, affirming the company's intention to address the technical issues and proceed with the merger plans.

Implications for Shareholders

While the return of the merger application may cause a temporary delay in the process, shareholders and investors should note that the company is actively working to resolve the issues and resubmit the application. The proposed merger, once approved, could potentially have significant implications for the structure and operations of both Markolines Pavement Technologies Limited and Markolines Infra Limited.

Investors and stakeholders are advised to keep an eye on further announcements from the company regarding the progress of the merger application and any potential impact on their holdings.

As the situation develops, Markolines Pavement Technologies Limited is expected to provide updates through appropriate channels, ensuring transparency and compliance with regulatory requirements.

Markolines Pavement Technologies Limited , a leading integrated highway maintenance solution provider, has announced securing a new order worth ₹3.51 crore from NCC Limited. The contract, which includes GST, is for earth piling works at Malad in Mumbai, further strengthening the company's robust order book.

Order Book and Recent Contracts

The latest order adds to Markolines' impressive unexecuted order book, which currently stands at over ₹400 crores. This follows a series of recent contract wins for the company, including:

• A ₹100 crore order from Trans Metalite India Limited for patch repair works in Andhra Pradesh
• Multiple orders totaling ₹97.47 crores, including two repeat orders from Varanasi Aurangabad NH-2 Tollway Private Limited

Strong Financial Performance

Markolines Pavement Technologies has reported robust financial results for the first quarter:

The company expects to convert its current unexecuted order book into revenues over the next 12-24 months.

Management Commentary

Mr. Sanjay Patil, Founder, Chairman & Managing Director of Markolines Pavement Technologies Limited, commented on the development: "India's infrastructure sector is on the cusp of a major transformation backed by unprecedented government investment. The robust growth momentum in the sector is giving us the necessary tailwinds and we have seen a steady growth in our order book. As an integrated highway maintenance solutions company, we focus on innovative, customised services for our clients. The strength of our current order book is a reflection of the faith our clients have in us and we expect it to expand further with the continued infrastructure push."

Corporate Developments

Markolines has recently achieved several corporate milestones:

• Migration to BSE Mainboard trading, effective June 12, 2025
• Application filed for NSE Mainboard listing on August 9, 2025
• Board approval for the merger of Markolines Infra Limited with Markolines Pavement Technologies Limited, subject to regulatory approvals

Company Background

Established in 2002, Markolines Pavement Technologies Limited has successfully executed over 4,930 lane kilometres of highway maintenance work across multiple states in India. The company offers a comprehensive range of services, including preventive maintenance, micro-surfacing, cold in-place recycling, and other modern pavement technologies.

Investor Relations

The company has scheduled a virtual meeting with analysts and investors on September 24, 2025, at 11:00 a.m. This Arihant Bharat Connect Conference will be open to all investors and the general public via video conference.

Markolines Pavement Technologies Limited continues to strengthen its position in the highway operations and maintenance sector, leveraging India's infrastructure growth story and its own innovative solutions.