Board of Directors of the Company at their meeting held on Tuesday, September 02, 2025, vide Video-Conferencing or other Audio-visual means ('OAVM') have inter-alia considered and approved ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board of Vuenow Infratech approved acquiring 51% of Mahakal Devcon Limited through an all-stock share swap valued at roughly Rs. 153.74 crore (about Rs. 256.24 per share). To fund this, the company will issue up to 60 lakh equity shares on a preferential basis to 4 allottees (Amit Kumar, Rakesh Kumar Priyadarshi, Arcane Technology, and WCA Services). Mahakal Devcon posted a turnover of Rs. 84.23 crore in FY25, up sharply from Rs. 52.69 crore in FY24, and operates in trading, distribution, infrastructure development, and consulting — which Vuenow says will help it offer end-to-end data centre and construction solutions. The Board also appointed two new independent directors, tripled the authorised share capital from Rs. 25 crore to Rs. 75 crore, and altered the object clause to add real estate, investment, and infrastructure activities. Separately, the Board noted BSE fines for late shareholding-pattern filing and non-constitution of mandatory committees, and will seek a waiver for the latter.
Existing shareholders will face significant dilution from the ~60 lakh new shares being issued at a premium of roughly Rs. 246 over face value, though the acquisition brings in a revenue-generating business (~Rs. 84 crore FY25 turnover). The capital and object-clause changes signal a strategic pivot toward construction, infrastructure, and investment activities, which could reshape the company's business profile once shareholder approvals are secured.