Regulatory18 Jun 2026, 07:00 pm
Veer Global Infraconstruction Receives BSE In-Principle Approval for Preferential Issue
AI Summary
Veer Global Infraconstruction Limited has received in-principle approval from BSE Limited for the conversion of loan into equity shares through a preferential issue. The approval is for issuing 8,00,000 equity shares at a price not less than ₹85 per share to non-promoters. BSE has emphasized compliance with all relevant regulations and advised the company to strengthen internal controls and obtain undertakings from allottees regarding trading restrictions to prevent non-compliance.
Key Highlights
- BSE grants in-principle approval for preferential issue of equity shares.
- Issue involves converting loan to equity, targeting non-promoters.
- Company advised to strengthen internal controls and monitor trades.
- Allottees must provide undertakings against intra-day trading.
- Strict compliance with SEBI and Companies Act regulations required.
Price Impact
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