Variman Global Enterprises Limited has scheduled its 32nd Annual General Meeting for September 29, 2026. The event will be conducted through video conferencing or other audio-visual means.

Meeting Details

The company notified the BSE Limited on September 7, 2026, regarding the submission of the notice and annual report for FY26. This disclosure was made pursuant to Regulations 30 and 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The cut-off date for shareholders to participate in the meeting is Tuesday, September 22, 2026. The AGM is slated to begin at 12:30 pm.

Sirish Dayata, Managing Director, signed the submission digitally. The company’s corporate office is located in Hyderabad, with branches in Vijayawada, Tirupati, Chennai, and Mumbai.

Variman Global Enterprises Limited approved the acquisition of a 99.99% stake in Ecogenics Technologies and Systems Limited through a share swap valued at ₹190.995 crore. The Board of Directors also sanctioned a fresh capital raise of ₹25.91 crore via preferential allotment and convertible warrants during its meeting on August 29, 2026.

The acquisition targets Ecogenics, a Scotland-based investment holding company with a 40% stake in Digit Africa Limited, an entity operating in Liberia. Variman intends to leverage this foothold to expand its IT solutions and hardware distribution business into African markets, including Nigeria, Ghana, Senegal, and Côte d’Ivoire.

Capital Raise Details

To fund operations and support growth, the company approved two instruments priced at ₹4.65 per equity share:

• Preferential Allotment: Issue of up to 1,67,32,245 equity shares to 29 non-promoter investors, aggregating to ₹7.78 crore.
• Convertible Warrants: Issue of up to 3,90,00,000 warrants to promoters and non-promoters, aggregating to ₹18.13 crore. These warrants are convertible into equity shares within 18 months; unconverted amounts will be forfeited.

Post-allotment, promoters will hold 11.35% of the diluted capital, while public shareholders will hold 88.65%.

Acquisition Structure

The deal involves issuing up to 41,07,42,006 equity shares to five sellers of Ecogenics shares on a swap basis. There is no cash outflow for Variman. The transaction requires shareholder approval at the ensuing General Meeting and is expected to close within 12 months of such approval.

Ecogenics reported no operating revenue in the last three financial years, deriving value primarily from its investment in Digit Africa. The target’s principal assets include established local infrastructure and business relationships in Liberia.

What the Numbers Show

The acquisition represents a significant dilution event. The issuance of over 41 crore shares for the Ecogenics stake, combined with the fresh capital raise, increases the total authorized share capital from ₹50 crore to ₹67 crore. While the deal provides immediate geographic access to Africa without cash expenditure, the substantial equity issuance dilutes existing promoter holding to just 11.35%, shifting majority control to public shareholders.

Regulatory Compliance

Sirish Dayata, Managing Director, signed the disclosure letter to BSE Limited. The trading window for designated persons remains closed until 48 hours after the conclusion of the board meeting, as per SEBI (Prohibition of Insider Trading) Regulations, 2015.