31st Annual Report of the Company
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Vuenow Infratech Limited has filed its 31st Annual Report for FY 2024-25 along with the AGM notice for the meeting to be held on September 29, 2025 via video conferencing. Key business items include adopting audited financials, re-appointing Managing Director Rahul Bhargav, and re-appointing M/s NYS & Company as statutory auditors for a 5-year term. The company is also seeking shareholder approval to drastically broaden its business objects to include real estate, infrastructure, investment/holding company activities, and bullion trading. Additionally, it plans to increase its authorized share capital from Rs. 25 crore to Rs. 75 crore and issue up to ~60 lakh equity shares at Rs. 87.11 each (total ~Rs. 52.3 crore) via a share swap acquisition of Mahakal Devcon Limited at a 50:17 ratio. Borrowing and investment limits under Sections 180 and 186 are being raised to Rs. 500 crore each. The filing also reveals significant board churn with four independent directors and two executive directors resigning in 2025, alongside a change in statutory auditor.
The share swap acquisition and major business diversification into real estate, infrastructure, and bullion trading signal a strategic pivot that could reshape the company's revenue mix and risk profile. Existing shareholders should note potential dilution from the preferential issuance (about 20.5% of expanded capital) and the substantial expansion of borrowing powers, while the multiple director resignations and auditor change warrant scrutiny of governance stability.