Marg gets nod to mop up Rs 500 crore via QIP

Marg has received an approval to make qualified institutional placement (QIP) of eligible securities up to Rs 500 crore by issue of equity shares and/or any securities convertible into equity shares, with or without warrants, in one or more tranches, to Qualified Institutional Buyers. The board at its meeting held on October 10, 2012 has approved for the same.

The above is however subject to the approval of the Shareholders of the Company and other statutory approvals as may be required.

Marg is engaged in the business of constructions and sale of residential, commercial, resorts and farm houses.