Rights Issue Details
Veer Global Infraconstruction Limited announces a renounceable rights issue of up to 34,08,684 equity shares at ₹30 per share (including premium of ₹20 per share) aggregating ₹102.26 crore. The issue follows a 1:5 entitlement ratio with record date of October 30, 2026 and issue opening from November 6-26, 2026.
Financial Structure
- Total Proceeds: ₹102.26 crore
- Net Proceeds for Project: ₹98.26 crore (for Ayodhya Nagari-I project)
- Issue Expenses: ₹40 lakh
- Current Paid-up Capital: ₹17.04 crore
- Post-Issue Capital (if fully subscribed): ₹20.45 crore (20% dilution)
Project Financing
The net proceeds of ₹98.26 crore will part-finance construction and development of the Ayodhya Nagari-I project (MahaRERA Registration No. PR1240002502919), which had its registration restored on September 11, 2026 after penalty payment and compliance updates.
Regulatory Framework
The issue complies with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 and SEBI Circular no. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2025/31 dated March 11, 2025. BSE granted in-principle approval for listing (letter no. LOD/RIGHT/RB/FIP/953/2026-27 dated October 16, 2026).
Process Timeline
- Record Date: October 30, 2026
- Issue Period: November 6-26, 2026
- Finalization of Basis of Allotment: November 27, 2026
- Credit of Rights Equity Shares: November 30, 2026
- Listing/Commencement of Trading: December 1, 2026
Key Service Providers
- Registrar: Purva Sharegistry (India) Private Limited
- Banker: DBS Bank India Limited
- Monitoring Agency: Brickwork Ratings India Private Limited
- Designated Stock Exchange: BSE Limited
Material Contracts & Documents
Multiple agreements including Monitoring Agency Agreement, Registrar Agreement, Tripartite Agreement with NSDL, and Banker Agreement are available for inspection at the registered office. Documents include MAHA RERA registration, High Court GST order, and various consents and certificates.
Risk Factors & Contingencies
Key risks include project concentration, cost overruns, regulatory compliance requirements, pending GST litigation of ₹22.12 crore (stayed by Bombay High Court), and past borrowing defaults. Promoters have undertaken to subscribe to their full rights entitlement.
Foreign Investment Restrictions
The document outlines restrictions on foreign ownership, noting that foreign investment is regulated through Industrial Policy, 1991 and FEMA. No FDI route investment (10% or more) allowed without government approval.
Compliance & Signatories
The company declares full compliance with Companies Act and SEBI regulations, signed by Managing Director Vijaybhai Vagjibhai Bhanshali, Directors, and Company Secretary Mahesh Kachhawa.
Financial Performance
FY2025-26 revenue: ₹690.32 lakh, PAT: ₹161.45 lakh, Net worth as of March 31, 2026: ₹3,611.90 lakh, demonstrating the company's financial position prior to the rights issue.