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Virinchi Ltd. ( (IN:VIRINCHI) ) has issued an announcement.
Virinchi Ltd has approved the allotment of 7.4 million convertible equity warrants at Rs 28 each, carrying a face value of Rs 10 and a premium of Rs 18, on a preferential basis to promoter group entity Vivo Bio Tech Limited. The warrants have been issued after shareholder approval at an extraordinary general meeting and in-principle approvals from both BSE and NSE, with 25% of the issue price already received and the remaining 75% payable upon conversion into fully paid equity shares; as only warrants have been issued so far, there is currently no change in Virinchi’s paid-up share capital, but the move sets up a pathway for potential future equity infusion and promoter group strengthening once the warrants are exercised.
More about Virinchi Ltd.
Average Trading Volume: 23,246
Technical Sentiment Signal: Strong Sell
Current Market Cap: 2.4B INR
Learn more about VIRINCHI stock on TipRanks’ Stock Analysis page.