Virinchi Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on Jun 27, 2025
VIRINCHI · price
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Virinchi Limited has issued a corrigendum to its EGM notice dated May 28, 2025, ahead of the EGM scheduled for June 27, 2025 at 3:30 PM via video conferencing. The corrections were made to the Explanatory Statement based on instructions from NSE and BSE, primarily relating to a proposed preferential issue of warrants. The floor price has been fixed at Rs. 24.96 per warrant, based on the 90-day volume weighted average price (VWAP) of the company's shares on NSE, while the 10-day VWAP stood at Rs. 22.92. The actual issue price is set at Rs. 25 per warrant, which is marginally above the floor price. The company clarified that no preferential allotments have been made so far in FY 2025-26 and confirmed that the number of allottees will stay within regulatory limits. Pricing certificate from a Practicing Company Secretary and a valuation report from a Registered Valuer have also been made available on the company's website.
This is a procedural update to the EGM notice with no change in the proposed terms. The preferential warrant issue at Rs. 25 per warrant, if approved and subsequently converted into equity shares, could dilute existing shareholders' holdings. Shareholders should review the corrigendum and valuation reports before voting at the June 27 EGM.