Vascon Engineers Limited has secured a significant work order worth ₹347.43 crore from the Central Public Works Department, Guwahati. The contract entails the demolition and re-development of RBI Quarters situated at the Zoo-Narengi Road Colony in Guwahati, Assam. This project, awarded on an EPC basis, underscores the company's continued engagement in government infrastructure development.

The order value of ₹347.43 crore includes the Goods and Services Tax (GST). The project has been classified as a domestic entity award, with no interest declared by the promoter or promoter group in the entity awarding the contract. The company also confirmed that the transaction does not fall under the ambit of related party transactions.

Project Details

The scope of work involves comprehensive demolition and subsequent re-development activities at the specified site. The execution of the project is governed by specific terms and conditions outlined in the Letter of Intent issued by the Office of the Executive Engineer, Guwahati Division. Key details of the order are outlined below:

Execution Timeline

Vascon Engineers is required to complete the entire scope of work within 36 months from the date of receipt of the order. The disclosure was made to the National Stock Exchange of India Limited and BSE Limited on June 10, 2026, in compliance with Regulation 30 of the SEBI (LODR) Regulations, 2015.

Vascon Engineers Limited held its Extraordinary General Meeting (EGM) on May 18, 2026, via Video Conferencing and Other Audio-Visual Means. The company sought shareholder approval for three special resolutions concerning capital raising and borrowing powers. The scrutinizer's report confirms that all resolutions were passed with the requisite majority.

Voting Results

Shareholders approved the issuance of up to 2,00,00,000 (Two Crores) fully convertible warrants on a preferential basis to persons belonging to the promoter and non-promoter categories. The resolution received 99.97% of the total votes polled, with 8,09,58,825 shares voting in favour and 20,285 voting against. The total number of votes polled stood at 8,09,79,110.

The second resolution sought approval to borrow funds in excess of the aggregate of the company's paid-up share capital, free reserves, and securities premium under Section 180(1)(c) of the Companies Act, 2013. This proposal was approved by 99.98% of the votes cast, with 8,09,59,325 shares in favour and 19,785 against.

The third resolution authorized the creation of a charge or mortgage over the company's properties for the purpose of borrowing under Section 180(1)(a) of the Companies Act, 2013. This resolution secured 99.97% approval, with 8,09,58,825 shares in favour and 20,285 against.

Shareholder Participation

The voting rights were reckoned as of May 11, 2026. The total number of shareholders on the record date was 95,835. A total of 122 members participated in the voting process, which included remote e-voting and voting during the EGM. There were 2 invalid votes recorded.

Detailed Voting Breakdown

The following table summarizes the voting results for the resolutions put to vote at the EGM:

The promoter and promoter group held 7,03,92,245 shares, while public non-institutions held 16,05,31,405 shares. The remote e-voting period was open from May 13, 2026, to May 17, 2026. KFin Technologies Limited served as the agency providing the e-voting platform.