Allotment of Convertible Equity Warrants
VIRINCHI · price
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Virinchi Limited has allotted 34,00,000 (Thirty-Four Lakh) convertible equity warrants at an issue price of Rs. 25 per warrant (Face Value Rs. 10 + Premium Rs. 15) on a preferential basis to 12 public category allottees. The Stakeholders' Relationship Committee approved this allotment on August 5, 2025, following shareholder approval at an EGM on June 27, 2025. The company has received 25% of the consideration upfront (Rs. 6.25 per warrant), aggregating to Rs. 2.12 crore, with the balance 75% (Rs. 18.75 per warrant) payable upon conversion. Each warrant is convertible into one equity share within 18 months, after which unexercised warrants will lapse. This is the first tranche of a larger authorised issuance of 96,00,000 warrants.
This is a potential dilution event for existing shareholders, though paid-up capital remains unchanged until warrants are exercised. Assuming full conversion, promoter holding would dilute from 37.51% to 36.31%, while public shareholding would rise from 62.49% to 63.69%. The company has raised Rs. 2.12 crore in immediate funds, with an additional Rs. 6.37 crore expected upon full conversion.