The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Vivo Bio Tech Ltd
VIRINCHI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Vivo Bio Tech Ltd, part of the promoter group of Virinchi Ltd, has acquired 1,60,00,000 (1.6 crore) convertible equity warrants on a preferential basis, representing 15.59% of the current share capital and 12.69% on a fully diluted basis. Each warrant is convertible into one equity share of Rs. 10 face value at an issue price of Rs. 28 per share, and must be converted within 18 months from the allotment date of January 9, 2026. The total equity share capital remains at 10,26,46,896 shares, while the diluted share capital (assuming all outstanding warrants are converted) would expand to 12,60,46,896 shares. The filing is a disclosure under Regulation 29(2) of the SEBI Takeover Regulations, signaling a significant increase in the promoter group's potential stake in Virinchi.
This is a positive signal for shareholders as the promoter group is deepening its commitment by injecting fresh capital into Virinchi via warrants. However, it also means potential dilution of nearly 23% of existing equity once all warrants (including 74 lakh prior outstanding warrants) are converted, which existing minority shareholders should factor in.