Vascon Engineers EGM for ₹80 Crore Warrant Issue

Vascon Engineers to hold EGM on May 18, 2026, seeking approval for preferential issue of 2 crore convertible warrants at ₹40 each to raise ₹80 crore.
Proposed allottees include promoter Siddharth Vasudevan Moorthy (1 crore warrants) and non-promoter Pratik Saraogi (1 crore warrants) with 18-month conversion period.
Company also seeks shareholder approval to borrow up to ₹1,500 crore and create charges on assets under Sections 180(1)(c) and 180(1)(a) of Companies Act, 2013.
Proceeds from warrant issue to be utilized for new real estate launches (₹32 crore), EPC working capital (₹32 crore), and general corporate purposes (₹16 crore).