Vishal Fabrics converts warrants to equity shares

Vishal Fabrics announced the conversion of 8,067,176 warrants into an equal number of equity shares, as approved in a Fund-Raising Committee meeting held on July 8, 2025. The conversion was initiated by Elysian Wealth Fund, classified as "Non-Promoter, Public Category," at an issue price of INR 30.60 per share, generating a total of INR 185,141,689.20 for the company. The conversion was executed at a rate of INR 22.95 per warrant. Consequent to this conversion, the issued and paid-up capital of Vishal Fabrics has increased to INR 1,088,050,015 consisting of 217,610,003 equity shares. A further 30,000,000 warrants are outstanding for conversion, which can be converted by paying the remaining INR 22.95 per warrant within 18 months.