Variman Global Enterprises Approves ₹191 Crore Ecogenics Acquisition Via Share Swap

Board approved raising authorised share capital from Rs 50 Cr to Rs 67 Cr, preferential issue of 1.67 Cr equity shares at Rs 4.65 each for Rs 7.8 Cr, and 3.90 Cr convertible warrants at Rs 4.65 each for Rs 18.1 Cr, subject to shareholder approval. The board also approved acquisition of approximately 99.99% of Ecogenics Technologies and Systems Limited through a share swap valued at Rs 191 Cr, involving issuance of up to 41.07 Cr shares. Ecogenics is a Scottish investment holding company with a 40% stake in Liberia-based Digit Africa, intended to support Variman's expansion across African markets. The transaction is non-cash but involves substantial equity dilution; promoters are expected to hold 11.35% post-issue. The target has no operating revenue or recurring dividend income, and completion remains subject to shareholder and regulatory approvals within 12 months.