Vascon Engineers Ltd Share Price – NSE  /  BSE

Construction, Small Cap

Vascon Engineers announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 23 December 2023 .

Powered by Capital Market - Live News

The fund raising proposal is subject to the receipt of necessary regulatory and statutory approvals, as may be required.

Further, the board of directors have also constituted the ‘QIP Committee’ and authorized such committee to decide, the terms and conditions of the proposed fund-raising for issue and allotment of equity shares and/or other convertible securities.

Vascon Engineers is engaged in the EPC, real estate construction and development business. The real estate business of VEL comprises construction of residential and office complexes along with information technology parks, industrial units, shopping malls, multiplexes, educational institutions and hotels. Under the EPC segment, VEL has executed construction contracts. It primarily caters to government departments and authorities.

The civil construction company's consolidated net profit declined 8.8% to Rs 20.66 crore on 0.1% decrease in net sales to Rs 217.10 crore in Q2 FY24 over Q2 FY23.

Powered by Capital Market - Live News

The Board of Vascon Engineers at its meeting held on 30 November 2023 has approved raising up to Rs 125 crore via QIP issue.

Powered by Capital Market - Live News

In an exchange filing, civil construction company said, “The proposal of raising of funds by issue of equity shares or any other eligible securities through permissible modes, including but not limited to a private placement, a qualified institutions placement, preferential issue, or any other method or combination of methods.”

The funds raising is subject to such regulatory/statutory approvals as may be required including approval of shareholders.

Vascon Engineers is engaged in the EPC, real estate construction and development business. The real estate business of VEL comprises construction of residential and office complexes along with information technology parks, industrial units, shopping malls, multiplexes, educational institutions and hotels. Under the EPC segment, VEL has executed construction contracts. It primarily caters to government departments and authorities.

The company's consolidated net profit declined 8.8% to Rs 20.66 crore on 0.1% decrease in net sales to Rs 217.10 crore in Q2 FY24 over Q2 FY23.

Powered by Capital Market - Live News