Invesco Mutual Fund has increased its stake in Dredging Corporation of India to 5.2073% following an open market acquisition of 80,029 equity shares. The purchase, executed on July 30, 2026, raises the fund’s total holding to 14,58,042 shares, signaling continued institutional interest in the state-owned dredging and marine infrastructure developer.

The acquisition was disclosed pursuant to Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Invesco Asset Management (India) Private Limited, acting as the investment manager for Invesco Mutual Fund, submitted the disclosure to Dredging Corporation of India on July 31, 2026. The company subsequently intimated the stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Acquisition Details

The stake increase was driven by purchases across four specific schemes managed by Invesco Mutual Fund. The acquisition pushed the fund's holding above the 5% threshold, triggering mandatory disclosure requirements under securities regulations.

The four schemes involved in the acquisition are the Invesco India Flexi Cap Fund, Invesco India Infrastructure Fund, Invesco India Multicap Fund, and Invesco India PSU Equity Fund. None of the acquired shares are encumbered by pledges, liens, or non-disposal undertakings.

Share Capital Structure

Dredging Corporation of India’s total issued and paid-up equity share capital remains unchanged at ₹28,00,00,000, comprising 2,80,00,000 equity shares with a face value of ₹10 each. The acquisition did not involve any warrants, convertible securities, or instruments entitling the acquirer to receive additional voting rights.

Hardik Mehta, Chief Risk Officer at Invesco Asset Management (India) Private Limited, signed the disclosure document. P. Chandra Kalabhinetri, Company Secretary of Dredging Corporation of India, acknowledged receipt of the disclosure and facilitated its submission to the Bombay Stock Exchange and the National Stock Exchange of India.

Dredging Corporation of India Limited has initiated a postal ballot process to seek shareholder approval for the regular appointment of Shri Jasmeet Singh Bindra as a Director (Promoter, Non-Executive & Non-Independent) and Chairman of the Company. The appointment, effective from June 9, 2026, was initially made by the Board of Directors and requires ratification by members under the provisions of the Companies Act, 2013, and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Shri Jasmeet Singh Bindra, IRTS, is a distinguished officer of the Indian Railway Traffic Service (IRTS) of the 1996 batch. He holds a B.Tech in Electronics, MBA and MPA, bringing together strong technical and managerial expertise. His career spans nearly three decades, during which he held key positions in the Indian Railways and the Government of India, including Executive Director (Gati Shakti/Traffic) at Railway Board and Divisional Railway Manager (Ranchi).

The Board of Directors has recommended passing the resolution as an Ordinary Resolution. As a Director (Promoter), Shri Bindra is not entitled to any sitting fee, remuneration, or perks for attending Board and Board Level Committee meetings. He does not hold any equity shares in the Company and has no familial relationships with other Directors or Key Managerial Personnel.

Shareholders can vote on the resolution through remote e-voting. The voting facility commences on Wednesday, 08.07.2026 at 9.00 A.M. IST and concludes on Friday, 07.08.2026 at 5.00 P.M. IST. Members whose names appear in the register of members or list of beneficial owners as on the cut-off date of Friday, 03.07.2026, are eligible to vote.

The Scrutinizer for the e-voting process is Mr. Sachin Agarwal of M/s. Agarwal S. & Associates, with Ms. Shweta Jain as the alternate scrutinizer. Upon completion of scrutiny, the results will be announced on or before 09.08.2026 and displayed on the Company's website.

Key E-Voting Dates