Malabar converts remaining warrants into equity shares
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Virtuoso Optoelectronics has allotted 7,32,600 equity shares to Malabar India Fund Ltd upon conversion of the remaining warrants at Rs. 455 per share (Rs. 445 premium). The company received Rs. 24.99 crore as the balance 75 percent of the issue price for this tranche. Malabar's holding rises from 7.91 percent to 9.98 percent. All 30,76,923 warrants originally issued at about Rs. 140 crore are now fully converted, with no warrants pending.
Share count rises to 3.26 crore; Malabar's stake climbs to nearly 10 percent. Company collects about Rs. 25 crore; full conversion removes warrant overhang.