Viji Finance allots 8.85Cr convertible warrants at Rs 2.80 to non-promoters
VIJIFIN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Viji Finance has allotted 8.85 crore convertible share warrants to 19 non-promoter allottees at Rs 2.80 per warrant, totaling Rs 24.78 crores. The company received Rs 6.20 crores as 25% upfront payment; the remaining 75% is payable within 18 months on conversion to equity shares of Re 1 face value. The issue was downsized from Rs 35.70 crores to Rs 24.78 crores as three proposed investors (Jhaveri HUFs and Harsha Jhaveri) backed out of 3.9 crore warrants. Warrants are subject to SEBI lock-in rules.
Potential dilution if all warrants convert to equity; raise indicates capital need; 3 investors dropping out is mildly negative for confidence.