Ducon Infratechnologies has scheduled its 17th annual general meeting for September 28, 2026, following a board meeting held on September 2, 2026. The company also approved the appointment of two new independent directors and the reappointment of one existing member.

The board convened via video conferencing with the deemed venue at its registered office in Thane. The meeting commenced at 5:30 pm and concluded at 6:25 pm. Key resolutions included convening the AGM through video conferencing or other audio-visual means and adopting the annual report for the financial year ended March 31, 2026.

Director Appointments and Changes

The board recommended the appointment of Mr. Anil Bhandari and Mr. Sandip Sutar as independent directors for a term of five years, effective from September 28, 2026. Both appointments are subject to shareholder approval at the ensuing AGM.

Mr. Prakash Vaghela was recommended for reappointment as an independent director for another five-year term. Conversely, Mr. Maruti Deore, a non-executive non-independent director, will not seek re-election. Mr. Jinesh Shah, an independent director, retires upon completion of his five-year tenure.

Voting and Logistics

E-voting will commence on September 25, 2026, at 9:00 am and conclude on September 27, 2026, at 5:00 pm. Shareholders holding shares in physical or dematerialized form may cast their votes electronically during this window.

Mr. Sachin Bidkar, a practicing company secretary, was appointed as the scrutinizer to ensure fair and transparent voting. National Securities Depository Limited (NSDL) will conduct the AGM proceedings.

The company affirmed that all appointed directors are not debarred from holding office under SEBI orders or relevant BSE and NSE circulars dated June 20, 2018. The notice for the AGM, along with incidental announcements, will be submitted in due course.

Ducon Infratechnologies has commenced its rights issue process with the opening date set for September 3, 2026. The company published a newspaper advertisement on August 31, 2026, confirming that the Rights Entitlement Letter and Composite Application Form were dispatched electronically on August 26, 2026. Physical copies are being sent via speed post to shareholders who have not received electronic forms.

The Board of Directors finalized the issue details in a meeting held on August 19, 2026. The company aims to raise ₹24,99,42,759 by issuing up to 24,99,42,759 fully paid-up equity shares at an issue price of Re. 1.00 per share. Existing shareholders are entitled to 10 rights shares for every 13 shares held on the record date of August 25, 2026.

Issue Schedule and Terms

The issue period runs from September 3, 2026, to September 10, 2026. Shareholders holding physical shares must provide demat account details to the Registrar to the Issue at least two working days prior to the closing date to ensure credit of rights entitlements.

Capital Structure Impact

Prior to the rights issue, Ducon Infratechnologies had 32,49,25,587 equity shares outstanding. Assuming full subscription, the post-issue outstanding equity shares will increase to 57,48,68,346. This represents a significant dilution in shareholding percentage for existing investors who do not participate in the rights issue.

Use of Proceeds

The net proceeds from the issue, estimated at ₹22,49,43,000 after deducting issue expenses of ₹2,50,00,000, will be utilized for the following objects:

• Adjustment of the outstanding unsecured loan of Mr. Arun Govil, Promoter-cum-Managing Director, through conversion into equity shares against his rights entitlement: ₹9,52,00,000.
• Incremental working capital requirements: ₹7,36,00,000.
• General corporate purposes: ₹5,61,43,000.

What the Numbers Show

The issue price of Re. 1 matches the face value of the equity shares, indicating that the capital is being raised at par. With the outstanding share count increasing from approximately 32.5 million to 57.5 million, the equity base will expand by nearly 77%. This structural change will impact earnings per share metrics proportionally unless accompanied by commensurate growth in net profit. The adjustment of the promoter's loan through equity conversion reduces the company's liability towards related parties while strengthening its equity base.