THIS company approves conversion of 80.67 lakh warrants, shares in focus: Check details here
Gujarat-based textile company Vishal Fabrics has informed exchanges that its board has considered and approved the allotment of equity shares upon conversion of 80.67 warrants. As a result, the stock is in focus today. The scrip opened in green at Rs 39.20 on the BSE against the previous close of Rs 38.71. It gained slightly to touch the intraday high of Rs 39.40. The 52-week high of the counter is Rs 42.88, and the 52-week low of Rs 21.05.
'Considered and approved the allotment of equity shares having face value of Rs. 5/- each, upon conversion of 8067176 warrants applied by Elysian Wealth Fund (Formerly known as Silver Stallion Limited)- 'Non-Promoter, Public Category', issued at an issue price of Rs. 30.60/- each on preferential basis, upon receipt of amount aggregating to Rs. 18,51,41,689.20/- (Rupees Eighteen Crore Fifty One Lakhs Forty One Thousand Six Hundred and Eighty Nine and Twenty Paisa only) at the rate of Rs. 22.95/- (Rupees Twenty-Two and Ninety-Five Paise only) per warrant,' the filing reads.
Technically, the scrip is trading above the 5-day, 20-day, 50-day, 100-day, and 200-day moving averages.
According to BSE Analytics, the counter has delivered a 128 per cent return over two years and a 54 per cent return in one year.
Despite global challenges and industry headwinds, the Gujarat-based textile company has shown resilience. Earlier, denim fabric manufacturer Vishal Fabrics Ltd. reported a 13% rise in profit to Rs 28.84 crore for the financial year ended March 31, 2025.
The company had reported a profit of Rs 21.13 crore in the year-ago period.
The total income of the Chiripal Group company rose by 5 per cent to Rs 1,521.43 crore in 2024-25 from Rs 1,451.29 crore in FY24.
'Despite global challenges and industry headwinds, our focus on efficiency, quality, and customer satisfaction has enabled us to achieve consistent growth,' Dharmesh Dattani, CFO of Vishal Fabrics Limited, said.
Vishal Fabrics is not resting on its laurels. The company is strategically strengthening its presence in domestic and international markets through innovation in sustainable manufacturing and digital transformation, the company said in a statement.
With PTI inputs
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