Virinchi Limited Allots 74 Lakh Convertible Equity Warrants to Vivo Bio Tech at ₹28 Each

Virinchi Limited has announced the allotment of 74 lakh convertible equity warrants to Vivo Bio Tech Limited, marking a significant capital raising initiative. The warrants have been priced at ₹28 each, representing the company's strategic approach to fundraising through convertible instruments.

Warrant Allotment Details

The key parameters of the warrant issuance are structured as follows:

Subscription and Payment Structure

Virinchi Limited has received 25% of the total subscription amount upfront from Vivo Bio Tech Limited. This partial payment structure is typically mandated by regulatory frameworks for convertible warrant issuances, ensuring immediate capital infusion while providing the warrant holder with conversion flexibility.

Conversion Timeline and Flexibility

The convertible equity warrants carry an 18-month conversion window, allowing Vivo Bio Tech Limited to exercise the option to convert the warrants into equity shares of Virinchi Limited within this specified timeframe. This structure provides the warrant holder with the flexibility to assess market conditions and the company's performance before making the conversion decision.

The warrant issuance represents a strategic capital raising mechanism that allows Virinchi Limited to secure immediate partial funding while offering potential equity participation to Vivo Bio Tech Limited based on future business performance and market dynamics.