Small-cap stock below ₹50 Vishal Fabrics edges higher despite weak trends in Indian stock market
Vishal Fabrics intimated the exchanges on 29 May 2025 about a Board of Directors meeting outcome with regards to fund raising . Th Outcome of the Fund-raising Committee Meeting of the Board of Directors held on May 29, 2025 was intimated by Vishal Fabrics to the Bombay Stock Exchange or the BSE. This was with reference too the Conversion of 69,32,824 warrants into equal number of equity shares of the Company.
Vishal Fabrics had intimated on September 12, 2024, with respect to the allotment of warrants and in the same context Vishal Fabrics said that Fund raising Committee of the Board of Directors of the Company in their meeting held on Thursday , May 29, 2025, considered and approved the allotment of equity shares having face value of Rs. 5/- each , upon part conversion of 69,32,824 warrants. This is out of total 1,50,00,000 warrants applied by Elysian Wealth Fund (Formerly known as Silver Stallion Limited) under the Non-Promoter, Public Category. The warrants hav been approved to be issued by Small-cap stock below ₹ 50, Vishal Fabrics at an issue price of Rs. 30.60/- each, on preferential basis, upon receipt of amount aggregating to Rs.15,91,08,310.80 /- (Rupees Fifteen Crore Ninety One Lakhs Eight Thousand Three Hundred and Ten and Eighty Paisa only) at the rate of Rs. 22.95/- (Rupees Twenty-Two and Ninety-Five Paise only) per warrant from the allottee pursuant to the exercise of their rights of conversion into equity shares.
According to a release by Vishal Fabrics, these warrants were granted to "Non-Promoter, Public Category" on a preferential basis with a price of Rs. 30.60/-per warrant upon payment of Rs. 7.65/- (Rupees Seven and Sixty-Five Paise only) per warrant, which is 25% of the Issue Price. This gives the warrant holders the right to convert their warrants into an equal number of Equity Shares of the Company by paying the remaining 75%, or Rs. 22.95/-per warrant, within 18 months of the date of warrants allotment.
Small-cap stock below ₹ 50, Vishal Fabrics share price opened at ₹ 30 on the BSE on Friday, almost flat over the previous days closing price of ₹ 30.04. The Small-cap stock below ₹ 50, Vishal Fabrics share price gained to intraday highs of ₹ 30.50 marking gains of 1.5% on a day when Indian stock market was weak and sensex was down around 0.25%.
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