Outcome of Meeting of Board of Directors held today, i.e., March 30, 2026.
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The board of Veer Global Infraconstruction, at its meeting on March 30, 2026, approved converting outstanding unsecured loans into equity shares through a preferential issue. Up to 8,00,000 equity shares of face value ₹10 will be issued at ₹85 per share, aggregating to about ₹6.8 crore. The two allottees are Veerone Limited (4,26,400 shares) and Veer Finance Limited (3,73,600 shares), who will together hold about 4.69% of the company post-allotment. Both are non-cash allotments — the consideration is loan conversion, not fresh cash infusion. The board also approved a related party transaction, the valuation report, and the draft EGM notice to seek shareholder approval.
Existing shareholders will face minor dilution of roughly 4.69% to two group/related entities. Since this is a debt-to-equity swap rather than fresh capital, the company's debt load is expected to reduce while equity base expands — broadly neutral for minority shareholders, with the related-party nature of the transaction worth watching closely.