Company has allotted 4,53,333 Equity shares of Rs.10/- each at an issue price of Rs. 45/- on conversion of warrants issued on preferential basis.
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Vivo Bio Tech Ltd has allotted 4,53,333 equity shares on conversion of warrants that were originally issued on a preferential basis. The shares have a face value of Rs. 10 each and were issued at Rs. 45 per share, meaning a premium of Rs. 35 per share. All the shares went to a single allottee, Dwight Technologies Private Limited. The company received Rs. 1.53 crore as application money, which is 75% of the total issue value. With this allotment, the company's total share capital has risen to Rs. 18.38 crore, spread across 1.83 crore equity shares.
The conversion leads to a modest dilution for existing shareholders and brings in fresh capital into the company. Since the entire allotment went to one entity, Dwight Technologies Private Limited now holds a noticeably larger stake, which existing investors should note for any future concentration or governance implications.