Vascon Engineers Ltd Approves Preferential Issue of Warrants and Raises Borrowing Limits
Vascon Engineers Limited held a Board of Directors meeting on April 17, 2026, approving several corporate actions, including the planned preferential issue of fully convertible warrants and increasing the company's borrowing and charge limits.The Board approved the issuance of up to 2,00,00,000 fully convertible warrants on a preferential basis. Each warrant is convertible into, or exchangeable for, one fully paid-up equity share with a face value of INR 10/-. The warrants are proposed at an issue price of INR 40/- per warrant. The total cash consideration payable for the issuance, addressed to both promoters and non-promoters, aggregates to INR 80,00,00,000/-.
The details of the proposed allotment are as follows:
| Detail | Value/Description |
|---|---|
| Total Warrants Proposed | Up to 2,00,00,000 |
| Face Value Per Share | INR 10/- |
| Issue Price Per Warrant | INR 40/- |
| Total Consideration | INR 80,00,00,000/- |
Increasing Corporate Powers
The Board meeting also outlined recommendations for shareholder approval regarding the increase of the company's corporate borrowing powers and limits on assets. Shareholders are to consider a special resolution to increase the borrowing power of the Company from the existing INR 1000 Crore to INR 1500 Crore.Furthermore, the Company recommended a special resolution to increase the limits for selling, leasing, or disposing of the whole or substantially whole of the undertaking, and for creating a Charge/Security over the Assets/Undertaking, from the existing INR 1000 Crore to INR 1500 Crore.
Operational Approvals and Next Steps
In addition to the financial approvals, the Board passed resolutions concerning the corporate governance framework, including:1. The constitution of a Preferential Issue Committee to finalize and approve relevant documentation and exercise necessary Board powers.
2. The approval for issuing a notice for an Extra-Ordinary General Meeting (EGM). This EGM is scheduled for Monday, May 18, 2026, and will be held through Video Conferencing (VC)/Other Audio Visual Means to seek member approval for the proposed Preferential Issue and other related matters.
VASCONEQ Stock Price Movement
Today, Vascon Engineers Limited shares gained 0.57% to settle at ₹38.73, closing higher in the realty sector. The stock saw significant trading interest, reaching a volume of 831,405 shares during the session.Source:
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