Vishal Fabrics Limited has announced the allotment of 80,67,176 equity shares to Elysian Wealth Fund upon conversion of warrants, increasing its paid-up share capital significantly.
In a regulatory filing dated July 8, 2025, the company informed that the Fund Raising Committee of the Board of Directors approved the allotment of equity shares of ₹5 each, issued at a price of ₹30.60 per share, to the non-promoter, public category investor, Elysian Wealth Fund (formerly known as Silver Stallion Limited).
Key details of the transaction:
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Total shares allotted: 80,67,176 equity shares
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Issue price per share: ₹30.60
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Total consideration received: ₹18.51 crore
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Warrants originally issued: 3 crore (of which these 80.67 lakh have been converted so far)
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Remaining warrants outstanding: 3 crore minus converted shares
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Investor category: Non-Promoter, Public
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Post-conversion holding of Elysian Wealth Fund: 3.71% of Vishal Fabrics’ equity
The company noted that these shares have been allotted pursuant to earlier member approval and in line with SEBI (ICDR) Regulations, 2018.
The paid-up capital of the company now stands at ₹108.8 crore, consisting of 21.76 crore equity shares of ₹5 each.
The warrants were issued on a preferential basis, with 25% of the amount paid at the time of subscription and the remaining 75% paid upon conversion. The investor retains the right to convert the remaining outstanding warrants into equity shares within 18 months of allotment.
The company confirmed that the newly allotted shares rank pari-passu with existing shares and the outstanding warrants will lapse if not exercised within the prescribed period.
