Viji Finance Allots 8.85 Crore Warrants; Issue Size Revised to ₹24.78 Cr
Viji Finance Limited approved the allotment of 8,85,00,000 convertible share warrants to non-promoters. The total issue size is revised to ₹24.78 crore. The company received an upfront subscription of ₹6.19 crore, representing 25% of the consideration. The remaining 75% is payable within 18 months.
The allotment of warrants will increase the equity base upon conversion, potentially impacting earnings per share and diluting existing shareholders. The capital raised will strengthen the company's financial position.
The company is successfully allotting convertible warrants to non-promoters, indicating investor confidence and potential for capital infusion, despite a revision in the issue size.
VIJI FINANCE LIMITED announced the allotment of 8,85,00,000 (Eight Crore Eighty-Five Lakhs) convertible share warrants on a preferential basis to non-promoters and other persons. This decision was approved by the Preferential Allotment Committee of the Board of Directors during their meeting held on Tuesday, 16th June, 2026.
The allotment aligns with the approval granted by the company's members at the Extra-Ordinary General Meeting held on 23rd April, 2026. In-principle approvals for this issue were also received from BSE Limited, National Stock Exchange of India Limited (NSE), and The Calcutta Stock Exchange Limited (CSE) on 04th June, 2026, and 12th June, 2026, respectively.
The company has received an upfront subscription of ₹6,19,50,000 (Rupees Six Crores Nineteen Lakhs Fifty Thousand only), representing 25% of the total warrant consideration. The remaining 75% will be payable by the warrant holders within 18 months from the allotment date upon exercising their conversion rights.
This preferential issue has been revised from an initial proposed size of ₹35,70,00,000 (Rupees Thirty-Five Crores Seventy Lakhs) comprising 12,75,00,000 convertible warrants. The revision is due to three proposed investors—Vicky R. Jhaveri HUF, Rajesh Nanubhai Jhaveri HUF, and Mrs. Harsha Rajesh Jhaveri—not participating in the issue, who were collectively to subscribe to 3,90,00,000 warrants. The revised total issue size is ₹24,78,00,000 (Rupees Twenty-Four Crores Seventy-Eight Lakhs) for 8,85,00,000 convertible warrants, with each warrant convertible into one equity share of face value Re.1/- at a price of ₹2.80/-
The warrants and the resultant equity shares are subject to applicable lock-in requirements as per SEBI regulations. The Preferential Allotment Committee meeting commenced at 3:00 PM and concluded at 4:30 PM on 16th June, 2026.
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