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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Vaxfab Enterprises Limited's Board has approved the allotment of 13,28,861 equity shares upon exercise and conversion of warrants. The shares were issued at Rs. 21.02 each (face value Rs. 10) to 3 investors - SPARKLING TRADEWING LLP, KUSHMANDA TRADELINE LLP, and LANKINI MANAGEMENT CONSULTANCY LLP. The warrant exercise price was Rs. 15.765 per warrant (with Rs. 5.255 paid at warrant allotment and Rs. 15.765 at conversion). Post-allotment, the company's paid-up equity capital stands at Rs. 22.20 crore comprising 2,22,00,027 shares. The new shares rank pari-passu with existing equity shares.
This is a dilutionary event for existing shareholders as warrants were converted to equity, increasing the share count. The conversion price of Rs. 21.02 is above face value, suggesting confidence from warrant holders. Three institutional investors (all LLPs) exercised their conversion rights.