MITCON Consultancy & Engineering Services Limited — Board Meeting, 26-03-2025: Outcome of Board Meeting

MITCON has announced a board meeting has accorded approval to acquire a 49% stake in three companies: MINVEN Solar 01, MINVEN Solar 02, and MINVEN Solar 03, for developing a combined 45 MW solar power project under a state scheme. The acquisition involves cash consideration of ₹0.98 lakh for each entity, with completion expected within 60 business days. The board also approved the issuance of a Postal Ballot Notice for shareholder approval on several matters, including the appointment of an Independent Director and increase in borrowing limits.