Veer Global Infraconstruction Ltd Receives In-Principle Approval from BSE for Loan Conversion into Equity Shares

Veer Global Infraconstruction Ltd Receives In-Principle Approval from BSE for Loan Conversion into Equity Shares​

Veer Global Infraconstruction Limited has secured in-principle approval from the Bombay Stock Exchange (BSE) Limited regarding a planned issuance of equity shares on a preferential basis. This approval facilitates the conversion of loans into equity shares by the company.

The exchange granted the 'in-principle' approval for the issuance of 8,00,000 equity shares to non-promoters. The shares are offered with a face value of Rs. 10/- each, and the issue price has been set at not less than Rs. 85/- per share.

The company is required to ensure that the issuance and subsequent allotment of these securities comply strictly with the provisions of the Companies Act, 2013, Securities Contracts (Regulation) Act, 1956, the Securities and Exchange Board of India Act, 1992, the Depositories Act, 1996, and all related regulations.

The approval grants the company permission to proceed with the preferential issue in accordance with the set terms.

Stock Price Movement​

At the close of trading today, Veer Global Infraconstruction Ltd settled down at ₹142.70, finishing with a 0.21% decline. The shares moved within an intraday range, testing as low as ₹142.70 and reaching a high of ₹144.00.