Vascon Engineers Limited has announced the allotment of 30,30,000 equity shares under its Employee Stock Option Scheme-2020 (ESOS-2020), marking a significant development in the company's employee compensation structure. The Board of Directors approved this allotment through a circular resolution dated March 20, 2026.

Share Allotment Details

The allotted equity shares carry a face value of ₹10 each and were issued pursuant to the exercise of options granted and vested to eligible employees under the company's ESOS-2020. The allotment represents the successful execution of the company's employee stock option program, providing eligible employees with ownership stakes in the organization.

Impact on Share Capital

The allotment has resulted in a substantial increase in the company's paid-up share capital. The shares allotted under this scheme rank pari-passu with the existing equity shares of the company, ensuring equal rights and privileges for all shareholders.

Share Rights and Benefits

The newly allotted equity shares come with comprehensive rights and benefits for the holders. These shares shall be entitled to dividend and other corporate benefits, if any, declared by the company after the allotment date. The absence of a lock-in period provides immediate liquidity options for the employee beneficiaries.

Key features of the allotted shares include:

• Equal ranking: Pari-passu status with existing equity shares
• Dividend rights: Entitlement to dividends declared post-allotment
• Corporate benefits: Access to all corporate actions and benefits
• No restrictions: Zero lock-in period for immediate tradability

Regulatory Compliance

Vascon Engineers Limited has maintained full regulatory compliance throughout this process. The company has already received in-principle approval from both the National Stock Exchange of India Limited and BSE Limited for this allotment. The company secretary and compliance officer, Neelam Piyush Pipada, has formally communicated this development to both exchanges, ensuring proper disclosure and record maintenance as per regulatory requirements.

Vascon Engineers Limited has received a Letter of Intent worth ₹115.90 crore from Ahmedabad Municipal Corporation for the development of Lotus Park residential project. The company disclosed this significant contract win under Regulation 30 of SEBI (LODR) Regulations, 2015, marking an important addition to its construction and development portfolio.

Project Specifications

The Lotus Park residential development project encompasses a substantial area of 54,000 square meters in the South West Zone of Ahmedabad. The contract has been awarded on an EPC (Engineering, Procurement, and Construction) basis by the domestic entity Ahmedabad Municipal Corporation.

Company Performance Metrics

This landmark contract strengthens Vascon's order book, which currently stands at ₹2,825 crore representing a healthy 2.8x coverage of revenues. With the ability to execute approximately 8 million square feet annually and currently operating at 90% utilization, supported by 800+ strong project and engineering team, Vascon is well-positioned to deliver the upcoming infrastructure and EPC Projects.

Management Commentary

Commenting on the announcement, Mr. Siddharth Vasudevan Moorthy, Managing Director, Vascon Engineers Ltd., said, "We are excited and honoured to partner with Ahmedabad Municipal Corporation in the development of Lotus Park, a landmark public infrastructure project that will enhance the quality of urban life for the citizens of Ahmedabad. This project reflects our deepening engagement with municipal bodies across India and our commitment to delivering transformative civic infrastructure through our integrated EPC capabilities."

Regulatory Compliance

Vascon Engineers Limited has fulfilled its disclosure obligations by informing both the National Stock Exchange of India Limited and BSE Limited about this material contract. The disclosure was signed by Neelam Piyush Pipada, Company Secretary and Compliance Officer, ensuring proper regulatory compliance.

Business Impact

This substantial contract award strengthens Vascon Engineers' presence in Gujarat's infrastructure development sector. The ₹115.90 crore residential project adds significant value to the company's order book and positions it well for future revenue generation in the western Indian construction market. With over 39 years of experience, the company has successfully delivered 225+ projects, encompassing more than 45 million sq. ft. of landmark developments across 30+ cities in India.