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Mint
07-08-2025
- Business
- Mint
Small-cap stock under ₹50 trades in green despite stock market sell-off
Vishal Fabrics share price traded higher on Thursday despite a broadly weak trend in the Indian stock market. The small-cap stock rose as much as 2.58% to ₹ 36.50 apiece on the BSE, following the company's announcement on the conversion of warrants into equity shares. In a regulatory filing, Vishal Fabrics said its Fund Raising Committee approved the allotment of 2.25 crore equity shares of face value ₹ 5 each, at an issue price of ₹ 30.60 per share (including a premium of ₹ ₹ 25.60), pursuant to the conversion of an equal number of warrants issued earlier on a preferential basis. The warrants were issued to three non-promoter, public investors: Vikasa India EIF I Fund: Allotted 1 crore equity shares; received ₹ 22.95 crore Eminence Global Fund PCC – Eubilia Capital Partners: Allotted 75 lakh equity shares; received ₹ 17.21 crore NEXPACT Ltd: Allotted 50 lakh equity shares; received ₹ 11.47 crore The total proceeds from the conversion stood at ₹ 51.64 crore, with each investor paying the balance ₹ 22.95 per warrant. Initially, the warrants were issued at ₹ 30.60 per unit with 25% of the issue price ( ₹ 7.65 per warrant) paid upfront. The company clarified that this completes the warrant conversion process, and no outstanding warrants remain as of date. Following this conversion, the issued and paid-up share capital of Vishal Fabrics has increased to ₹ 123.81 crore, comprising 24.76 crore equity shares of ₹ 5 each. The newly issued shares will rank pari-passu with the existing equity shares. Vishal Fabrics share price fell over 4% in one month, but the stock rallied 29% in three months. The smallcap stock has risen 17% in six months, while it has fallen 13% in one year. However, Vishal Fabrics shares have delivered multibagger returns of 118% over the past two years. At 11:25 AM, Vishal Fabrics share price was trading 1.18% higher at ₹ 36.00 apiece on the BSE.
Mint
07-08-2025
- Business
- Mint
Small-cap stock under ₹50 trades in green despite stock market sell-off
Vishal Fabrics share price traded higher on Thursday despite a broadly weak trend in the Indian stock market. The small-cap stock rose as much as 2.58% to ₹ 36.50 apiece on the BSE, following the company's announcement on the conversion of warrants into equity shares. In a regulatory filing, Vishal Fabrics said its Fund Raising Committee approved the allotment of 2.25 crore equity shares of face value ₹ 5 each, at an issue price of ₹ 30.60 per share (including a premium of ₹ ₹ 25.60), pursuant to the conversion of an equal number of warrants issued earlier on a preferential basis. The warrants were issued to three non-promoter, public investors: Vikasa India EIF I Fund: Allotted 1 crore equity shares; received ₹ 22.95 crore Eminence Global Fund PCC – Eubilia Capital Partners: Allotted 75 lakh equity shares; received ₹ 17.21 crore NEXPACT Ltd: Allotted 50 lakh equity shares; received ₹ 11.47 crore The total proceeds from the conversion stood at ₹ 51.64 crore, with each investor paying the balance ₹ 22.95 per warrant. Initially, the warrants were issued at ₹ 30.60 per unit with 25% of the issue price ( ₹ 7.65 per warrant) paid upfront. The company clarified that this completes the warrant conversion process, and no outstanding warrants remain as of date. Following this conversion, the issued and paid-up share capital of Vishal Fabrics has increased to ₹ 123.81 crore, comprising 24.76 crore equity shares of ₹ 5 each. The newly issued shares will rank pari-passu with the existing equity shares. Vishal Fabrics share price fell over 4% in one month, but the stock rallied 29% in three months. The smallcap stock has risen 17% in six months, while it has fallen 13% in one year. However, Vishal Fabrics shares have delivered multibagger returns of 118% over the past two years. At 11:25 AM, Vishal Fabrics share price was trading 1.18% higher at ₹ 36.00 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Business Upturn
08-07-2025
- Business
- Business Upturn
Vishal Fabrics board approves conversion of 8,067,176 warrants into equity shares at Rs 30.60 each
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, […] By Aditya Bhagchandani Published on July 8, 2025, 19:27 IST 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: Total shares allotted: 80,67,176 equity shares Issue price per share: ₹30.60 Total consideration received: ₹18.51 crore Warrants originally issued: 3 crore (of which these 80.67 lakh have been converted so far) Remaining warrants outstanding: 3 crore minus converted shares Investor category: Non-Promoter, Public 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. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Time of India
17-06-2025
- Business
- Time of India
Biocon shares in focus after launching QIP at floor price of Rs 340.20
Biocon shares: The decision comes after receiving approvals from the Board of Directors in April and from shareholders through a postal ballot earlier this month. On June 16, the Fund Raising Committee approved the issue's opening, set the floor price, and finalized the preliminary placement document dated the same day. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Biocon share price performance The shares of Biocon are expected to be in focus on Tuesday, June 17, after the company opened its Qualified Institutions Placement (QIP) issue on Monday, June 16. The company has set the floor price for the QIP at Rs 340.20 per equity share.'We wish to inform you that pursuant to the approval accorded by the Board of Directors of the Company (the 'Board'), at its meeting held on April 23, 2025, and the shareholders of the Company, pursuant to the special resolution passed through Postal Ballot on June 04, 2025, the Fund Raising Committee (the 'Committee') has at its meeting held today i.e. Monday, June 16, 2025, inter alia, passed the following resolutions: a. Authorizing the opening of the Issue today, i.e. Monday, June 16, 2025,' the company said in a regulatory decision follows approvals from the Board of Directors in April and shareholders via a postal ballot earlier this month. The Fund Raising Committee, in its meeting held on June 16, approved the opening of the issue, the floor price, and the preliminary placement document dated the same informed that the company will determine the issue price in consultation with the Book Running Lead Managers appointed in relation to the the past year, the Biocon stock has gained 6.77%, while it is up 1.03% over the last 6 months. In the most recent 3-month period, the stock has risen by 10.65%, and over the past 1 month, it is up 5.24%. However, on a year-to-date (YTD) basis, the stock has declined by 3.12%. Biocon shares closed 0.5% higher at Rs 357.30 on the BSE on Monday.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Mint
16-06-2025
- Business
- Mint
Biocon shares in focus after board opens up QIP fundraising on 16 June, sets floor price at ₹340.20/share
Biocon shares will be in focus of stock market investors after the company's board of directors announce the opening of the QIP (Qualified Institutional Placement) fundraising on 16 June 2025, according to an exchange filing. 'The Fund Raising Committee has at its meeting held today, i.e. Monday, June 16, 2025, authorizing the opening of the issue,' said Biocon in the BSE filing. The pharma company also approved the floor price of the QIP issue to be at ₹ 340.20 per equity share. Biocon disclosed that the company has the ability to discount the offer further to not more than 5 per cent on the floor price of the QIP issue. 'The company may, at its discretion, offer a discount of not more than 5% on the floor price for the issue,' said Biocon in the exchange filing. The firm will decide the issue price after consultation with the book-running lead managers appointed in relation to the case. Biocon shares closed 0.52 per cent higher at ₹ 357.30 after Monday's stock market session, compared to ₹ 355.45 at the previous stock market close. The company announced the outcome of its board meeting after the market operating hours on 16 June 2025. Shares of the pharmaceutical company have given investors more than 637.35 per cent since its listing in the Indian stock market in 2004. However, the shares lost 6.37 per cent in the last five years. In the last one-year period, the stock has gained 8.71 per cent, and is trading 4.31 per cent higher in the last five stock market sessions. Biocon shares hit their 52-week high level at ₹ 404.60 on 21 January 2025, and the 52-week low level was at ₹ 290.80 on 3 March 2025, according to data collected from the BSE website. The pharma company's market capitalisation (M-Cap) was at ₹ 42,897.44 crore as of the stock market close on Monday, 16 June 2025.
