Stock Market Today: SBIcap Trustee Co Ltd increases stake in small-cap stock Vishal Fabrics 10.
According to the release of SBICAP Trustee Company Limited, before the contemplated acquisition, SBICAP’s stake stood at 12,260,847 shares of Vishal Fabrics, which was equivalent to 6.20% stake of SBICAP in Vishal Fabrics.
However, following the acquisition of more shares by SBICAP Trustee Company Limited in Vishal Fabrics, SBICAP’s shareholding has increased to 12,622,350 or 6.38% stake in Vishal Fabrics.
This means that SBICAP Trustee Company Limited has acquired 3,61503 shares of Vishal Fabrics, which is equivalent to 0.183% stake of SBICAP Trustee Company Limited in Vishal Fabrics.
According to the release of SBICAP Trustee Company Limited, it had acquired additional stake in Vishal Fabrics on October 31, 2024.
Vishal Fabrics shares open at Rs. at 30.95 BSE on Tuesday, over the previous close 30.05. Vishal Fabrics share price seen intraday high Vishal Fabrics share price also fell to intraday low of 30.95. 29.56.
fundraising
Meanwhile, in an earlier release on the exchanges, Vishal Fabrics had announced raising funds through preferential issue. Vishal Fabrics said this in its release 1,53,00,00,000/- ( 153 crore) is the total issue size. However, by September 30, 2024, the company has received 25% of the issue size i.e. 38,25,00,000/- ( 7.65/Warrant for Rs 5,00,00,000), as advance consideration/subscription amount.
Remaining 75% ( Vishal Fabrics in its release said that whenever the conversion option is exercised by the warrant holder to convert the warrants into equity shares during the 18 month tenure of the warrant, Rs 22.95/warrant will be received by Vishal Fabrics.
According to Vishal Fabrics the objective of the issue is that the funds can be used to meet its working capital requirements, repayment of unsecured loans/creditors/secured loans, general corporate purposes and expenses related to the issue.
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