Veer Global Infraconstruction Approves Preferential Issue of Equity Shares Through Loan Conversion
Veer Global Infraconstruction Ltd, a company, announced the key outcomes of its Board of Directors meeting held on Tuesday, April 14, 2026. During the meeting, the board addressed several corporate actions, most notably approving a significant preferential issue of equity shares through the conversion of outstanding unsecured loans.The Board took several decisions, including considering and approving revisions and clarifications concerning the details of the outstanding unsecured loans. Furthermore, the board approved the issuance of a corrigendum to the Notice of Extraordinary General Meeting. The company also ratified and confirmed all decisions and actions previously taken by the board.
The core transaction approved was the preferential issue of equity shares, where the consideration is provided in the form of converting outstanding unsecured loans into equity shares.
Preferential Issue Details
Details regarding the proposed preferential issue, which involves the conversion of unsecured loans into equity, are summarized below:| Particulars | Details |
|---|---|
| Type of Securities | Equity Shares of face value of Rs. 10/- each |
| Issuance Type | Preferential Issue of equity shares |
| Total Securities Proposed | Up to 8,00,000 Equity Shares |
| Issue Price | ₹85/- per share |
| Aggregate Consideration | ₹6,80,00,000/- |
| Allottees/Investors | 1. Veerone Limited, 2. Veer Finance Limited |
Post Allotment Shareholding
The board also confirmed the post-allotment shareholding resulting from the preferential issue.| Investor Name | Shares Allotted (No.) | Post-Preferential Shareholding (%) |
|---|---|---|
| Veerone Limited | 211,765 | 1.24% |
| Veer Finance Limited | 588,235 | 3.45% |
Stock Price Movement
At the close of trade on Monday, Veer Global Infraconstruction Ltd shares settled at ₹92.11, ticking up by 3.83%. Throughout the day, the stock moved within a range, testing lows near ₹91.88 while reaching a high of ₹92.80.Source:
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