mitcon cons. & engg. has expanded its business operations through the incorporation of a step-down subsidiary, MITCON Power Trading Limited. The new entity was formed by MITCON Sun Power Limited, a wholly owned subsidiary of Mitcon Consultancy & Engineering Services Limited, to enter the power trading sector. The incorporation was completed on June 19, 2026, with the objective of driving growth for the ultimate holding company.

The subsidiary has been established with an authorized share capital of ₹2,00,00,000 and a paid-up share capital of ₹1,00,000. MITCON Sun Power Limited subscribed to 10,000 equity shares at a par value of ₹10 each, aggregating to ₹1,00,000, to secure 100% of the paid-up capital. The transaction was conducted as a related party transaction involving cash consideration.

The disclosure, submitted to the National Stock Exchange India Limited, confirmed that no specific governmental or regulatory approvals were required for the incorporation. As a newly formed entity, MITCON Power Trading Limited does not yet have a turnover figure, and historical financial data for the past three years is not applicable.

Key Details of MITCON Power Trading Limited

The company stated that the move is intended to expand its business footprint in power trading. Mitcon Consultancy & Engineering Services Limited does not have a promoter or promoter group, and the transaction was executed at arm's length.

MITCON Consultancy & Engineering Services Limited shareholders have approved the re-appointment of Mr. Anand Chalwade as Managing Director and appointed Dr. Prakash Vaidya and Mr. Sanjay Ballal Phadke as directors. The resolutions were passed via a postal ballot process conducted on June 08, 2026, with 100% of the valid votes cast in favour of each proposal. The voting also sanctioned three material related party transactions with MINVEN Solar entities.

The remote e-voting process, scrutinized by Shikha Rai, Partner at M/s Mamta Binani and Associates, was conducted in compliance with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The e-voting facility was provided by National Securities Depository Limited (NSDL), with voting commencing on May 07, 2026, and concluding on June 05, 2026. A total of 11,948,445 valid votes were polled, representing 68.59% of the total outstanding shares.

Voting Results

The postal ballot sought approval for two special resolutions and four ordinary resolutions. The special resolutions concerned the re-appointment of the Managing Director and the appointment of an Independent Director. The ordinary resolutions covered three material related party transactions and the appointment of a Non-Executive Non-Independent Director.

Special Resolutions

Ordinary Resolutions

Shareholder Participation

The voting participation was driven entirely by public institutions and public non-institutions, as the promoter and promoter group did not hold any shares entitled to vote on the record date of May 01, 2026. Public institutions cast 3,154,030 votes, while public non-institutions cast 8,794,415 votes. There were no votes cast against any resolution, and no invalid votes were recorded during the process.