Veer Global Infraconstruction Ltd. Approves Conversion of Loan into Equity Shares
Veer Global Infraconstruction Limited announced that its Board of Directors approved the conversion of a loan into equity shares at a meeting held on March 30, 2026. The meeting commenced at 4:00 PM and concluded at 4:33 PM.The board also approved the issue price, number of equity shares, and other terms and conditions related to the proposed issuance of equity shares. Additionally, approval was given for a related-party transaction, a valuation report, a draft notice for an Extraordinary General Meeting (EGM), and the appointment of a scrutinizer and other intermediaries.
The company plans to issue up to 8,00,000 equity shares to Veerone Limited and Veer Finance Limited at a price of ₹85 per share, aggregating to ₹6,80,00,000.
Following the issuance, Veerone Limited will hold 426,400 shares, representing 2.50% of the total, while Veer Finance Limited will hold 373,600 shares, representing 2.19% of the total. The consideration for the issuance is the conversion of outstanding unsecured loans. The share issuance price is determined in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
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