Homegrown recycling firm Vikas Lifecare Ltd (VLL) has informed exchanges that its 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.

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"Considered and approved the allotment of equity shares on conversion of 5,61,00,000 warrants into 5,61,00,000 equity shares of 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 preferential basis, upon receipt of balance amount aggregating to Rs. 16,83,00,000/- (Rupees Sixteen Crores and Eighty Three Lakhs Only) at the rate of Rs. 3/- (Rupees Three only) per warrant (being 75% of the issue price per warrant)," the company said in an exchange filing.

Meanwhile, equity benchmark indices tanked in early trade on Friday, taking their losing streak to the fifth day running, as escalating tensions in the Middle East weighed heavily on investors' sentiment.

Fresh foreign fund outflows, uptick in Brent crude oil prices and decline in IT stocks also added to the overall weak sentiment in equities.

The 30-share BSE Sensex tanked 672.53 points to 71,816.46. The NSE Nifty dropped 218.2 points to 21,777.65.

From the Sensex basket, Infosys declined over 2 per cent after the company's revenue growth guidance for FY25 failed to meet market expectations.

Iin Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were quoting in the negative territory. Wall Street ended mostly lower on Thursday.

Global oil benchmark Brent crude climbed 2.27 per cent to USD 89.09 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,260.33 crore on Thursday, according to exchange data.