The Board has approved the Issuance of upto 60,00,000 (Sixty Lakhs) only fully paid-up equity shares of face value INR 10 (Indian Rupees Ten) each of the Company on a preferential basis ....
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On the reaction day the stock moved 0.4 pts less than Nifty Microcap 250 and 0.6 pts more than its Industrial Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Vuenow Infratech Limited's board approved the acquisition of 51% equity in Mahakal Devcon Limited through an all-stock share swap. To fund this, the company will issue up to 59,99,735 equity shares (face value Rs. 10) at Rs. 256.25 per share to four shareholders of Mahakal Devcon, totalling roughly Rs. 153.74 crore in consideration. Mahakal Devcon posted a sharp revenue jump — turnover rose from Rs. 6.56 crore in FY23 to Rs. 52.69 crore in FY24 and Rs. 84.23 crore in FY25. The board also approved increasing authorised share capital from Rs. 25 crore to Rs. 75 crore, altering the objects clause of the MOA to include infrastructure and real estate activities, and appointed two new independent directors (Mr. Chahan Vinod Vora and Ms. Deepti Sharma). The company acknowledged BSE penalties for late filing of shareholding patterns and non-constitution of certain committees, and plans to seek waivers.
The share-swap acquisition will dilute existing shareholders by roughly 20.5%, as the four incoming investors will collectively hold that much post-issue. While the deal adds a fast-growing infrastructure business (Mahakal's revenue grew ~13x in two years) and aligns with Vuenow's data centre expansion plans, retail investors should watch the September 29 AGM for shareholder approval and monitor any further dilution from the proposed fund-raising plans.