Mega Nirman & Inds.

Mega Nirman & Industries executed a Master EV Charging Services Agreement with Safexpress Private Limited on 9 October 2026 to install, own, operate and maintain electric vehicle charging stations under its MEGACHARGE brand at mutually agreed sites. Each station was to be added through a separate Site Annexure following a feasibility assessment, commissioned within 60 days, and operated for 10 years extendable by three years, with prepaid tariffs, minimum guaranteed consumption and exclusive use at the premises. The master arrangement committed no minimum number of sites or aggregate value, with actual revenue tied to commissioned sites and energy dispensed, and an earlier service agreement for an Agra site dated 29 April 2026 was to be superseded upon execution of its annexure. The company reported revenue of about Rs 14.8 crore in the year to March 2026, with its EV and others division contributing roughly Rs 13.5 crore and infrastructure services about Rs 1.3 crore. It operated an asset-light charging network with contracted fleet customers alongside in-house charger assembly from completely knocked down kits. Charging infrastructure under build stood at about Rs 30.7 crore in work in progress at the end of March 2026.

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Mega Nirman & Industries' board approved a fresh rights issue of fully paid-up equity shares of Rs 10 each to existing shareholders for up to Rs 50 crore, subject to member and regulatory approvals, with the price, entitlement ratio and record date to be fixed later. The board also appointed Ishaan as an additional non-executive non-independent director and approved a postal ballot from October 8 to November 6 through NSDL to seek member approval for the rights issue and for the appointments of Himanshu Gopal as executive director, Shruti Swaroop as independent director and Ishaan. The company had withdrawn its earlier Rs 50 crore rights application and draft letter of offer from BSE on September 17 to review objects, utilisation and structure. Revenue was Rs 1,479.44 lakh in the year to March, with Rs 1,349.61 lakh from EV and others and Rs 129.83 lakh from infrastructure, while net worth stood at Rs 38.5 crore with Rs 30.68 crore in charging-infrastructure capital work in progress. The appointments followed the resignations of Anand Rai and Sushma Jain on August 11 and the cessation of whole-time director Ramanuj Darak on August 25 after 99.96% votes against his reappointment.

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Mega Nirman & Industries withdrew its proposed Rs 50 crore rights issue and withdrew the draft letter of offer filed with BSE. The company said the move followed a proposed review of the objects and utilisation of proceeds as well as the overall structure and terms of the issue. It said the board may in due course deliberate on the objects and other aspects and decide on a fresh rights issue with modifications subject to laws and approvals. The proposed issue had been approved by the board in November 2025 and February 2026 but had not yet opened. The company earned revenue of about Rs 14.8 crore in FY26, with about 91% from EV and other operations and the rest from first-year infrastructure services. Net worth stood at about Rs 38.5 crore after dilution, with capital work-in-progress of about Rs 30.7 crore in charging infrastructure.

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Sept 17 (Reuters) - Mega Nirman & Industries Ltd MEGN.BO:

• WITHDRAWS APPLICATION AND DRAFT LETTER OF OFFER FOR PROPOSED RIGHTS ISSUE

Further company coverage: MEGN.BO

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Mega Nirman & Industries said Ramanuj Murlinarayan Darak ceased to continue as Whole-Time Director from August 25 after shareholders rejected his reappointment at the company’s annual general meeting. The resolution received 7,520 votes in favour and 20,359,102 against, with the latter representing 99.96% of valid votes. The company said it would take steps to ensure that its board continued to meet the statutory minimum number of directors. The same meeting approved the appointment of Ankan Gupta as chairman and managing director, the appointment of Krishan Rakesh & Co. as statutory auditor, and amendments to the articles of association. Anand Rai and Sushma Jain had also resigned as directors effective August 11, while Himanshu Gopal and Shruti Swaroop were appointed to the board. Revenue was ₹14.8 crore in FY26, while net worth stood at ₹38.5 crore after dilution.

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April 9 (Reuters) - Mega Nirman & Industries Ltd MEGN.BO:

• MEGA NIRMAN & INDUSTRIES LTD - MEGACHARGE PARTNERS WITH NHEV TO DEPLOY 660 EV CHARGING POINTS

Source text: ID:nBSE7qVRR1

Further company coverage: MEGN.BO

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Feb 25 (Reuters) - Mega Nirman & Industries Ltd MEGN.BO:

• MEGA NIRMAN & INDUSTRIES LTD - APPROVED FUNDRAISING THROUGH EQUITY SHARES UP TO 500 MILLION RUPEES

Source text: ID:nBSE5cGq87

Further company coverage: MEGN.BO

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Feb 17 (Reuters) - Mega Nirman & Industries Ltd MEGN.BO:

• TO CONSIDER RAISING OF FUNDS

Source text: ID:nBSEbXYqWG

Further company coverage: MEGN.BO

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July 25 (Reuters) - Mega Nirman & Industries Ltd MEGN.BO:

• MEGA NIRMAN & INDUSTRIES LTD - PROPOSAL TO ISSUE EQUITY SHARES ON 1:1 RIGHTS BASIS

Source text: ID:nBSE8RplQN

Further company coverage: MEGN.BO

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Aug 8 (Reuters) - Mega Nirman & Industries Ltd MEGN.BO:

• APPROVED FUNDRAISE UP TO 1 BILLION RUPEES

Source text for Eikon: ID:nBSE2MtRJR

Further company coverage: MEGN.BO

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July 25 (Reuters) - Mega Nirman & Industries Ltd MEGN.BO:

• MEGA NIRMAN & INDUSTRIES - TO CONSIDER ISSUE OF FURTHER SHARE CAPITAL

Source text for Eikon: ID:nBSE1z7sXL

Further company coverage: MEGN.BO

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Aug 25 (Reuters) - Mega Nirman & Industries Ltd MEGN.BO:

• APPROVED FUNDRAISE UPTO 375 MILLION RUPEES

• FUNDRAISE VIA ISSUE OF FULLY CONVERTIBLE WARRANTS

Source text for Eikon: ID:nBSE16gk2P

Further company coverage: MEGN.BO

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