Allotted 7,67,407 equity shares pursuant to conversion of warrants.
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Awaiting price reaction for this filing.
Vivo Bio Tech has allotted 7,67,407 equity shares to Dwight Technologies Private Limited upon conversion of warrants that were earlier issued on a preferential basis. The shares have a face value of Rs. 10 each and were allotted at Rs. 45 per share, which includes a premium of Rs. 35. The company received Rs. 2.59 crore as application money, which represents 75% of the total issue price. Following this allotment, the company's total issued share capital has risen to Rs. 22.10 crore, comprising 2,21,00,628 equity shares of Rs. 10 each.
This results in dilution for existing shareholders as new shares enter the float. The remaining 25% of the issue price is still due from the warrant holder, so the company will receive additional funds once that is paid. The entry of Dwight Technologies Private Limited as a shareholder may be worth tracking for future disclosures about their holding and intent.