Viji Finance has officially closed its warrant conversion process by allotting 1 crore equity shares to investor Manoj Chhaganlal Rathod. The move, following a final payment of Rs 2.10 crore, increases the company's paid-up equity capital to Rs 23.10 crore. All previously issued warrants have now been converted.
Viji Finance Completes Warrant Conversion
1,00,00,000 equity shares allotted; paid-up capital rises to Rs 23.10 crore.
Reader Takeaway: Conversion clears outstanding warrants, simplifying capital structure while increasing total equity base by 1 crore shares.
What just happened
The Preferential Allotment Committee of Viji Finance Ltd approved the final tranche of share allotments on August 26, 2026. Non-promoter investor Manoj Chhaganlal Rathod was issued 1 crore shares at Rs 2.80 each, following the receipt of Rs 2.10 crore in remaining funds.
Why this matters
This milestone marks the successful conclusion of a warrant conversion exercise initiated in June 2026. With the conversion of all 8.85 crore warrants now complete, the company has no further warrant-related dilution pending from that specific issuance. The company's total paid-up equity capital has adjusted from Rs 22.10 crore to Rs 23.10 crore.
Context
The shares were issued at a premium of Rs 1.80 per share over the face value of Re 1. These new shares are issued under SEBI (ICDR) guidelines and will rank pari-passu with existing equity shares, meaning they hold equal rights and dividends. The shares are subject to mandatory lock-in periods as prescribed by regulatory norms for preferential allotments.