Homegrown recycling firm approves conversion of warrants - Details

The board of directors of Vikas Lifecare Limited (VLL) has informed exchanges that the board of directors of the company has approved the conversion of warrants into equity shares. 

The board has approved the conversion of 1.28 crore warrants into an equal number of equity shares. Vikas Life Care Limited issued these warrants on a preferential basis to promoters and non-promoters/public category investors at the rate of Rs 4 per warrant. The company received Rs 3.84 crore from warrant conversion. 

"The Board of Directors of the Company in their meeting held today i.e., Saturday, June 11, 2024, considered and approved the allotment of equity shares on conversion of 1,28,00,000 warrants into 1,28,00,000 equity shares of the face value of Re. 1/- each at an issue price of Rs. 4/- each (including a premium of Rs. 3/- each), to 'Promoters' and 'Non-Promoters, Public Category', on a preferential basis," the company said in an exchange filing.

Earlier, the company's board of directors approved a conversion of 5,61,00,000 warrants into equity shares. According to an exchange filing, the warrants will be converted into equity shares of the face value of Re 1 each at an issue price of Rs 4 each to promoters and non-promoters.