Issuance of fully convertible warrants to person belonging to promoter & promoter category and non -promoter category on a preferential basis aggregating upto Rs. 21,00,00,000 subject to ....
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The Board of Veerhealth Care Ltd, at its meeting on March 28, 2026, approved the issuance of fully convertible warrants on a preferential basis aggregating up to Rs. 21 Crores, subject to shareholder approval via postal ballot. The warrants will be allotted to 6 persons from the promoter/promoter group category (totalling about Rs. 10.5 Crores) and 4 non-promoter allottees (totalling about Rs. 10.5 Crores). The issue price will be determined as per SEBI ICDR Regulations, with each warrant convertible into one equity share of Rs. 10 face value within 18 months of allotment. Allottees must pay 25% upfront and the remaining 75% at the time of exercising the warrants. A Preferential Issue Committee has also been constituted to finalize the relevant documents.
The company is set to raise up to Rs. 21 Crores in fresh capital, which can strengthen its balance sheet, but the conversion of warrants within 18 months will lead to dilution of existing shareholders' equity. Promoter participation of roughly half the issue size is a positive signal of insider confidence, though the non-promoter component includes related family members which warrants closer scrutiny.