The company has allotted 4,48,889 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 4,48,889 equity shares of Rs. 10 face value at an issue price of Rs. 45 each, carrying a premium of Rs. 35 per share. The shares were issued on conversion of warrants that were originally allotted on a preferential basis. All the shares went to promoter group members — Kompella Ramakrishna Paramahamsa (2,88,889 shares) and Kompella Lopa Mudra (1,60,000 shares). The company received Rs. 1,51,50,003.75 as 75% of the total issue price. Following this allotment, the company's paid-up share capital has risen to Rs. 17,92,48,160, divided into 1,79,24,816 equity shares of Rs. 10 each.
This is a completion of a previously committed preferential warrant conversion, so there is no new dilution beyond what was already anticipated. Since both allottees belong to the promoter group, promoter holding in the company has increased, which signals promoter confidence in the business.