Corporate Action21 Oct 2026, 10:40 pm
Virtual Global Education to Raise ₹42 Cr via Warrants
AI Summary
Virtual Global Education Ltd announced on October 21, 2026, that its Board of Directors has approved a preferential allotment of 42,00,00,000 (42 Crore) fully convertible warrants at an issue price of ₹1 per warrant. The total issue size is ₹42,00,00,000 (₹42 Crore). These warrants are convertible into equity shares on a one-to-one basis and have a tenure of 18 months. The funds raised will meet the company's financial requirements. The allotment is to persons belonging to the Promoter/Promoter Group and Non-Promoter, Public Category. Post-conversion, the promoter shareholding is expected to increase from 8.23% to 14.87%, while public shareholding will decrease from 91.77% to 85.13%.
Key Highlights
- Company to issue 42 crore warrants at ₹1 each.
- Total fundraise of ₹42 Crore via preferential allotment.
- Warrants convertible to equity shares within 18 months.
- Promoter holding to increase post-conversion.
- Funds to meet company's financial requirements.
Price Impact
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