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Viji Finance Allots 88.5 Million Warrants in Revised Preferential Issue

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Viji Finance (NSE:VIJIFIN, BOM:537820) has allotted 88.5 million convertible warrants on a preferential basis to 19 non-promoter investors.

The company received about 62 million rupees as upfront subscription money, representing 25% of the total warrant consideration, according to a Tuesday filing. The remaining amount is payable upon conversion within 18 months of allotment, subject to applicable regulations.

The preferential issue was revised from 127.5 million warrants worth 357 million rupees to 88.5 million warrants worth 247.8 million rupees after three proposed investors did not participate in the offering.

Each warrant is convertible into one equity share of the company.

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