VIP Clothing Allots 84.75 Lakh Warrants at ₹22.50 Each

VIP Clothing Ltd has approved the allotment of 84,75,000 convertible warrants to promoters and non-promoters at an issue price of ₹22.50 per warrant. The warrants are convertible into one equity share each within 18 months of allotment. Promoters and promoter group paid 50% of the consideration, while non-promoters paid 25%. The total consideration received for this preferential issue amounts to ₹9,50,06,250. This move is part of the company's strategy to raise capital through a preferential issue.