We hereby inform you that the Fund Raising Committee of the Company in their meeting held today considered and approved the allotment of fully paid up equity shares on conversion of 69,32,824 ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Vishal Fabrics' Fund Raising Committee, at its May 29, 2025 meeting, approved the allotment of 69,32,824 equity shares (face value Rs. 5 each) to Elysian Wealth Fund (formerly Silver Stallion Limited) on conversion of warrants held by them. These shares were issued at Rs. 30.60 per share on a preferential basis, and the company received Rs. 15.91 crore towards the balance 75% conversion amount (Rs. 22.95 per warrant). After this conversion, Elysian Wealth Fund's holding in the company stands at 3.31% (69,32,824 shares), up from zero prior to this allotment. The company's paid-up equity capital has increased to Rs. 104.77 crore, comprising 20,95,42,827 equity shares. A further 3,80,67,176 warrants remain outstanding for conversion within the 18-month tenure, which could lead to additional equity dilution if converted.
Existing shareholders will see mild equity dilution as Elysian Wealth Fund now holds 3.31% of the company. The Rs. 15.91 crore infusion strengthens the company's capital base without debt, but the remaining 3.80 crore outstanding warrants could lead to further dilution over the next few months, which is a key thing to watch.