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Virinchi Ltd. ( (IN:VIRINCHI) ) just unveiled an announcement.
Virinchi Limited has approved the allotment of 4 million convertible equity warrants on a preferential basis to IT Peer Technologies LLC at an issue price of Rs 28 per warrant, comprising a face value of Rs 10 and a premium of Rs 18, following shareholder approval and in-principle clearances from both BSE and NSE. The warrants, issued after receipt of 25% of the consideration, will be convertible into an equal number of fully paid equity shares upon payment of the remaining 75%, and as the conversion has not yet occurred, there is currently no change in the company’s paid-up share capital, indicating a staged capital-raising structure that will only dilute equity once the balance funds are received.
More about Virinchi Ltd.
Average Trading Volume: 23,316
Technical Sentiment Signal: Sell
Current Market Cap: 2.41B INR
Find detailed analytics on VIRINCHI stock on TipRanks’ Stock Analysis page.