Vascon Engineers Limited has informed the Exchange regarding Outcome of Board Meeting held on April 17, 2026.
VASCONEQ · price
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Vascon Engineers' Board approved the issuance of up to 2 crore fully convertible warrants on a preferential basis at INR 40 per warrant, raising up to INR 80 crore. Warrants are convertible into 1 equity share each within 18 months of allotment. The issue is split equally between promoter Siddharth Vasudevan Moorthy (1 crore warrants) and non-promoter Pratik Saraogi (1 crore warrants). The company also proposed raising its borrowing power limit from INR 1,000 crore to INR 1,500 crore and increasing its asset creation/charge limit from INR 1,000 crore to INR 1,500 crore. All proposals are subject to shareholder approval at an EGM scheduled for May 18, 2026.
The INR 80 crore warrant issuance provides capital for growth but will dilute existing shareholders. The equal split between promoter and non-promoter indicates both groups are committing fresh capital. Higher borrowing limits suggest potential for future debt-backed expansion.