Variman Global Withdraws Ecogenics Acquisition and Share Capital Increase

Variman Global Enterprises Limited has withdrawn its proposed acquisition of approximately 99.99% stake in Ecogenics Technologies and Systems Limited. The acquisition was to be executed through a share swap involving the issuance of up to 41,07,42,006 equity shares at Rs. 4.65 each. The withdrawal is due to the non-receipt of PAN details from the selling shareholders of Ecogenics, which prevented the filing of the in-principle application with BSE. Consequently, the related proposal to increase the company's authorized share capital from Rs. 50 crore to Rs. 67 crore has also been withdrawn.