Allotment of 245500 equity shares on conversion of warrants
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Awaiting price reaction for this filing.
Vedavaag Systems has allotted 2,45,500 equity shares to four non-promoter individuals upon conversion of equal number of warrants, originally issued on October 23, 2024. The shares were allotted at ₹63 each (face value ₹10, premium ₹53) on a preferential basis, with the company receiving ₹1.15 crore as the balance 75% tranche (₹47.25 per warrant). Post this allotment, the company's paid-up equity capital has risen to ₹23.46 crore, consisting of 2,34,64,200 equity shares of ₹10 each. Around 73,98,800 warrants are still pending conversion, and warrant holders have 18 months from allotment to pay the remaining 75% and convert them into shares.
This is a routine warrant-to-equity conversion that increases the share count and dilutes existing shareholders marginally. With nearly 74 lakh warrants still pending, further dilution is likely over the coming months, which investors should factor in.