Notice of Extra-Ordinary General Meeting to be held on April 25, 2026.
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Veer Global Infraconstruction Ltd has called an EGM on April 25, 2026, to seek shareholder approval for two key matters. First, the company proposes to convert outstanding unsecured loans worth ₹6.8 crore into 8 lakh equity shares at ₹85 per share (face value ₹10 + premium ₹75), to be allotted to Veerone Limited (4.26 lakh shares) and Veer Finance Limited (3.74 lakh shares). This debt-to-equity conversion aims to reduce the company's debt burden and strengthen its balance sheet without any fresh cash inflow. Post-allotment, paid-up capital will increase from ₹16.24 crore to ₹17.04 crore. Second, the company is seeking a blanket approval for related party transactions up to ₹20 crore for FY 2026-27 with promoters, directors, KMPs and their relatives for ordinary business activities like loans, purchases, and services.
The loan conversion will dilute existing shareholders by approximately 4.9% but improves the company's debt position. The related party transaction approval grants significant flexibility for connected party dealings, which shareholders should monitor for potential conflicts of interest.