Vascon Engineers Limited has successfully concluded its board meeting held on April 17, 2026, approving key financial proposals including a ₹800 crore fund raising initiative through issuance of convertible warrants. The meeting, which commenced at 1811 hours and concluded at 1908 hours, was conducted in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Convertible Warrants Issuance

The board approved the issuance of up to 2,00,00,000 fully convertible warrants at an issue price of INR 40 per warrant, aggregating to INR 80,00,00,000. Each warrant is convertible into one fully paid-up equity share of INR 10 each. The issue price is higher than the floor price determined in accordance with Regulation 164, read with Regulation 166A of Chapter V of SEBI ICDR Regulations.

The warrants carry a right to subscribe to one equity share per warrant, exercisable in one or more tranches during the period from the date of allotment until expiry of 18 months from the date of allotment.

Borrowing Power and Charge Limits Increase

The board recommended to shareholders a special resolution for increasing borrowing powers from existing INR 1000 Crore to INR 1500 Crore pursuant to Section 180(1)(c) of the Companies Act, 2013. Additionally, the board recommended increasing limits for creating charge/security over assets from existing INR 1000 Crore to INR 1500 Crore under Section 180(1)(a) of the Companies Act, 2013.

Extra-Ordinary General Meeting

An Extra-Ordinary General Meeting (EGM) has been scheduled on Monday, May 18, 2026, through Video Conferencing or Other Audio Visual Means to seek member approval for the proposed preferential issue along with other matters. The board also constituted a Preferential Issue Committee to finalize and approve all relevant documents for the proposed issue.

Regulatory Compliance

The formal communication was signed by Company Secretary and Compliance Officer Neelam Piyush Pipada, ensuring proper documentation and regulatory adherence. The notice of the EGM will be sent separately to stock exchanges and members, and will be available on the company's website at www.vascon.com and on the websites of both stock exchanges.

Vascon Engineers Limited has announced the completion of its acquisition of 100% stake in Kanchi Properties Private Limited, making it a wholly owned subsidiary of the company. The acquisition was formally completed on March 31, 2026, as disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Acquisition Details

The transaction involved the purchase of 10,200 equity shares of Rs. 10 each, representing complete ownership of Kanchi Properties Private Limited. The acquisition was structured as a cash transaction with a total consideration of Rs. 1.02 lakh.

Target Company Profile

Kanchi Properties Private Limited operates in the construction industry, specializing in buying and selling tenanted properties. The company also accepts and provides commitment deposits for purchase and sale of such properties. Incorporated on August 14, 1996, under the Registrar of Companies, Pune, the entity has been operational for nearly three decades.

Financial Performance Trends

Kanchi Properties has demonstrated remarkable growth in its recent financial performance, particularly in FY 2024-25.

Transaction Structure and Compliance

The acquisition has been classified as a related party transaction, conducted at arm's length pricing. Importantly, the promoter and promoter group of Vascon Engineers Limited have no direct interest in the target entity. The transaction required no governmental or regulatory approvals beyond standard compliance requirements.

Strategic Rationale

The acquisition aligns with Vascon Engineers Limited's core business operations, as Kanchi Properties operates within the same construction industry vertical. This strategic move strengthens the company's presence in the real estate and construction sector, particularly in the specialized segment of tenanted property transactions.

The completion of this acquisition expands Vascon Engineers' operational capabilities and market reach within its existing business domain, representing a focused approach to growth through strategic acquisitions in complementary business areas.