Vascon Engineers has completed the acquisition of Kanchi Properties Private Limited, making it a wholly owned subsidiary. The acquisition involved a cash consideration of ₹102,000 for a 100% stake, which includes 10,200 equity shares valued at ₹10 each.
Kanchi Properties, based in Pune, operates within the construction industry, focusing on the buying and selling of tenanted properties. The company was incorporated on 14 August 1996 and has shown a turnover of ₹27,24,000 for the financial year 2024-25, significantly higher than the ₹12,000 recorded in the previous two financial years.
The acquisition is classified as a related party transaction, conducted at arm’s length. Notably, Vascon Engineers‘ promoter group does not hold any interest in Kanchi Properties. The acquisition aligns with Vascon’s strategic interests, as Kanchi operates in the same business vertical.
No governmental or regulatory approvals were required for this acquisition, and it was completed on 31 March 2026.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).