Vuenow Infratech Ltd — Important, 02-09-2025: Company Update

Vuenow Infratech's board approved acquiring 51% of Mahakal Devcon Limited via an all-stock swap. This strategic move aims to expand Vuenow's data center offerings into comprehensive infrastructure development, including building construction. Mahakal Devcon reported a turnover of Rs. 84.23 Cr in FY25. The acquisition is valued at approximately Rs. 153.74 Cr, discharged by issuing about 60 lakh new equity shares. Additionally, the board approved increasing authorized share capital from Rs. 25 Cr to Rs. 75 Cr and modifying its object clause for wider business activities, both pending shareholder approval. Two independent directors were also appointed. A proposal for raising funds was deferred.