Submission of Voting Results of the 31st Annual General Meeting ('AGM') of Vuenow Infratech Limited as per Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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Vuenow Infratech Limited held its 31st AGM for FY2024-25 on 29 September 2025 via video conferencing and all 12 resolutions were passed with 100% votes in favour. Total of 1,10,53,687 votes were polled, representing 47.64% of the company's 2,32,01,500 outstanding shares, with promoter group voting 100% of their 85,15,598 shares and public non-institutions polling 25,38,089 shares (17.28% of their holding). Key special resolutions approved include increasing the company's borrowing limits, raising the threshold for loans and investments under Section 186, authorising creation of charges on assets, and a preferential issuance of up to 59,99,736 equity shares to shareholders of Mahakal Devcon Limited through a share swap. Ordinary resolutions included adoption of FY25 financial statements, re-appointment of statutory auditors M/s NYS and Company, appointment of secretarial auditors M/s Ankit Singhal & Associates for 5 years, and an increase in authorised share capital.
The approved preferential issuance of ~60 lakh new equity shares via a share swap with Mahakal Devcon shareholders could dilute existing shareholders by roughly 25-26% once allotted, while the higher borrowing limit signals potential debt expansion. The unanimous approval largely reflects promoter control (promoters hold ~36.7% and voted in full), with limited public participation, so investors should watch for the actual swap completion and any change in capital structure.