Marvel Decor Limited Approves Convertible Warrants Issuance
Marvel Decor Limited announced on March 24, 2026, that its Board of Directors approved the issuance of up to 12,00,000 convertible warrants on a preferential basis. The warrants will be offered to Mr. Ashok Ramniklal Paun and Mr. Snehal Bhupendra Shah, aggregating up to Rs. 6,66,00,000.Each warrant is convertible into one fully paid-up equity share of face value Rs. 10 at a price of Rs. 55.50 within a maximum period of 18 months. The warrant issue price is Rs. 55.50, including a premium of Rs. 45.50. Investors will pay 25% of the warrant issue price at the time of subscription, with the remaining 75% payable upon equity share allotment.
The Board also approved alterations to the company's Articles of Association, subject to shareholder approval. Specifically, Clause 14A will be added, allowing the Company to issue warrants in accordance with applicable laws.
An extraordinary general meeting is scheduled for April 18, 2026, to seek shareholder approval for these matters.
Details of Proposed Investors & Holdings:
The table below outlines the proposed investor details and their anticipated shareholding:
| Investor | Pre-Issue Holding | No. of Warrants | Post-Issue Holding (assuming full conversion) |
|---|---|---|---|
| Mr. Ashok Ramniklal Paun | 9774820 | 10,00,000 | 10774820 |
| Mr. Snehal Bhupendra Shah | 227000 | 2,00,000 | 427000 |
Post-Issue Holding figures assume full conversion of warrants.
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