Viji Finance Secures Approval for 1 Crore Equity Shares

1,00,00,000 equity shares approved for listing following warrant conversion.
Issue price set at Rs 2.80 per share, including a premium of Rs 1.80.

Reader Takeaway: Expansion of paid-up capital marks successful warrant conversion but final liquidity awaits secondary depositary confirmation.

What just happened

Viji Finance Ltd has successfully obtained listing and in-principle approvals from the BSE and the National Stock Exchange (NSE). This pertains to 1 crore equity shares issued on a preferential basis to non-promoter public categories. These shares originated from the conversion of warrants and carry a face value of Re 1 per share, issued at a premium of Rs 1.80, totaling an issue price of Rs 2.80 per share.

Why this matters

For the company, this procedural milestone formalizes the infusion of capital previously locked in warrants. For retail investors, this increases the total outstanding share base of the company. It represents a shift from debt or warrant-like instruments into full equity ownership, effectively bolstering the company's net worth and capital structure.

Regulatory status

The BSE has formally granted the listing approval, while the NSE has provided in-principle approval. However, the process is not yet complete for trading. The company must still obtain confirmation letters from depositories (NSDL and CDSL) verifying that the shares have been credited to the respective beneficiary accounts. Once this documentation is provided, the exchanges will grant final trading permission. The company is mandated to file these requirements within seven working days.

What to track next

Investors should look for the final circular from the BSE and NSE regarding the date of commencement of trading for these new shares. Once trading starts, these shares will be fully fungible with existing equity. The distinct serial numbers for these newly issued shares range from 221000001 to 231000000.