Marathon Nextgen Realty Ltd. Receives NSE Observation Letter for Composite Scheme of Amalgamation and Arrangement
Marathon Nextgen Realty Limited (MNRL) announced it has received an observation letter with “no adverse observations” from the National Stock Exchange of India Limited (NSE) regarding the Composite Scheme of Amalgamation and Arrangement. The letter was received on March 30, 2026.The scheme involves Matrix Water Management Private Limited, Sanvo Resorts Private Limited, Marathon Realty Private Limited, Matrix Enclaves Projects Developments Private Limited, Matrix Land Hub Private Limited, Marathon Nextgen Realty Limited, and Marathon Energy Private Limited.
MNRL previously received an observation letter with “no adverse observations” from the BSE Limited on March 26, 2026.
The scheme remains subject to approval from the shareholders/creditors of the involved companies and other statutory and regulatory approvals. The observation letter from the NSE will also be available on the company’s website at https://marathon.in/nextgen/.
The NSE’s observation letter references a previous letter from November 20, 2025, and a subsequent letter from SEBI dated January 23, 2026, which included several comments. These comments relate to disclosure of ongoing adjudications and recovery proceedings, compliance with SEBI circulars, and the provision of financial information.
The NSE’s “No objection” is valid for six months from March 30, 2026, during which the scheme must be submitted to the National Company Law Tribunal (NCLT).
Table: Shareholding Pattern – Proposed Scheme
| Category | Pre-Scheme Shareholding (%) | Post-Scheme Shareholding (%) | Change |
|---|---|---|---|
| Promoter/ Promoter group | |||
| Public Shareholders |
The validity of this observation letter is six months from March 30, 2026.
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