Variman withdraws proposed Ecogenics Technologies acquisition

Deal CancelledStrategic Transactions View source PDF Explain this filing

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AI summary

Variman Global Enterprises has withdrawn its proposed acquisition of about 99.99% stake in Ecogenics Technologies and Systems Limited, a Scotland-based company. The deal was to be via share swap of about 41.07 crore equity shares at Rs 4.65 each. The board cancelled it on 07.09.2026 because PAN details of selling shareholders were not provided, blocking the in-principle BSE application. The related proposal to raise authorised share capital from Rs 50 crore to Rs 67 crore is also withdrawn.

Likely market impact

Acquisition cancelled due to missing PAN details. No share swap or capital increase will proceed, removing a potential growth avenue for the company.