Vascon Engineers Clarifies Warrants Allotment Details Following EGM Approval
Vascon Engineers Limited has provided clarifications regarding the issuance and allotment of fully convertible warrants following its Extra-Ordinary General Meeting (EGM) held on May 18, 2026. The clarification pertains to the preferential allocation of 2,00,00,000 fully convertible warrants to both promoter and nonpromoter category shareholders.The company issued these clarifications in response to requests for observations and necessary detail regarding the EGM notice, which had initially approved the warrant issuance. These warrants are designated for dissemination among the company's shareholders.
Vascon Engineers Limited provided a detailed breakdown of the proposed allottees and their resulting holdings on a fully diluted basis. The details for the individual promoter and nonpromoter category recipients are as follows:
| Sr. No | Name | Ultimate Beneficial Owner | Category of Investor | Pre Issue Holding | % of Pre Issue Holding | Warrants/ Shares Proposed to be Allotted | Post Issue Holding | % of Post Issue Holding |
|---|---|---|---|---|---|---|---|---|
| 1 | Siddharth Vasudevan Moorthy | - | Individual Promoter | 45,74,278 | 1.97 | 1,00,00,000 | 1,45,74,278 | 5.66 |
| 2 | Pratik Saraogi | - | Individual Non Promoter | 0.00 | 0.00 | 1,00,00,000 | 1,00,00,000 | 3.89 |
The company confirmed the specifics related to the revised shareholding of these proposed allottees as part of its ongoing updates concerning the warrant issuance.
VASCONEQ Stock Price Movement
As of 1:17 PM, shares of Vascon Engineers Limited are edging higher in the live market, gaining 0.06% to trade at ₹35.94. The stock has seen activity with a total volume of 286,547 shares traded so far today.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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